Penny (supermarket)
German discount supermarket chain
From Wikipedia, the free encyclopedia
Penny (German pronunciation: [ˈpɛni] ⓘ) or internationally Penny Market (in Bavaria and Austria Penny Markt) is a German discount supermarket chain based in Germany, which operates 3,550 stores.[1] The market was founded by Leibbrand Gruppe in 1973; since 1989, it has been fully owned by the Rewe Group.[2]
 | |
| Type | Subsidiary |
|---|---|
| Industry | Retail |
| Founded | 1973 |
| Headquarters | Cologne, Germany |
| Key people | Alain Caparros, managing director |
| Products | Discount stores |
| Revenue |  € 10.3 billion (2010) |
Number of employees | 43,773 (2010) |
| Parent | Rewe Group |
| Website | www.penny.de |
In France, the chain was bought in 2005 by the Ed brand of the Carrefour group.[3] In 2010, it operated approximately 3,000 stores across 6 countries in Europe. As of May 2014, Penny was present in Germany, Austria, Bulgaria, Hungary, Italy, Czech Republic and Romania, with Turkey soon to come. After taking over 7 stores in Liguria from Tuodì in October 2017 for €9.2 million, it is present in Italy with 357 points of sale distributed in 17 regions, served by 7 distribution centers.[4]
Operations
See also
