Penny
German discount supermarket chain operated by REWE Group across several European markets, known internationally as Penny Market and as Penny Markt in Bavaria and Austria.
Last updated October 14, 2026
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Overview
Penny is a German discount supermarket brand whose stores operate under the Penny, Penny Market, or Penny Markt name depending on the country. The chain was established in 1973 by Leibbrand Gruppe and subsequently became part of REWE Group. Since 1989, REWE has held full ownership of the business, making Penny one of the group’s principal discount-retail formats alongside its broader supermarket and retail portfolio. The brand’s core proposition is a low-price grocery shop with a comparatively compact store format. Its assortment is centered on everyday food, household necessities, and other frequently purchased consumer goods. Like other discount chains, Penny is designed around efficient store operations, concentrated product ranges, and value-oriented pricing rather than the breadth of a full-line supermarket. Products may include fresh and packaged foods, beverages, household supplies, and selected non-food merchandise, although the precise range varies by country. Penny developed from a German base into a multinational European chain. Reference material describes operations in Germany, Austria, Bulgaria, Hungary, Italy, the Czech Republic, and Romania, with the business operating approximately 3,000 stores across six European countries in 2010 and approximately 3,550 stores in the broader description of the chain. Country-specific naming reflects local usage: the brand is commonly called Penny Market internationally and Penny Markt in Bavaria and Austria. The chain’s geographic footprint has also changed over time. Penny exited Bulgaria on 31 October 2015. In Italy, it expanded through the acquisition of seven stores in Liguria from Tuodì in October 2017 for €9.2 million, bringing its reported Italian presence to 357 points of sale across 17 regions and service from seven distribution centers. In France, the chain’s operations were sold in 2005 to Carrefour Group’s Ed brand. These developments illustrate that Penny’s international presence has been managed through both organic operations and market-specific portfolio decisions. Penny is not a separately listed public company. It operates within REWE Group, a major German retail group, and its strategy is therefore shaped by the parent group’s private ownership and retail portfolio. The brand’s competitive position is in the European discount-supermarket segment, where it competes primarily on affordability, convenience, and routine grocery shopping. Its principal international reference points include Aldi and Lidl, while its local competitive set varies by market and can include conventional supermarkets and other discount formats.
History
Penny originated in Germany in 1973, when the discount chain was founded by Leibbrand Gruppe. Its creation placed the business within the development of modern German discount retail, a sector built around limited assortments, operational efficiency, and strong price competition. The brand served as a grocery-focused format rather than a broad department-store or full-service supermarket concept. A major ownership change occurred in 1989, when REWE Group became the full owner of Penny. Under REWE, Penny developed into the group’s dedicated discount supermarket brand and expanded beyond Germany. The chain used different local naming conventions, including Penny Market in international contexts and Penny Markt in Austria and parts of Germany. Its expansion strategy combined the use of established stores and distribution infrastructure with country-by-country adaptation. By 2010, reference material described Penny as operating approximately 3,000 stores across six European countries. By May 2014, the chain was reported as present in Germany, Austria, Bulgaria, Hungary, Italy, the Czech Republic, and Romania, with Turkey expected to become a further market at that time. The chain’s international footprint was not static. In France, its operations had been sold in 2005 to Carrefour Group’s Ed brand. Penny later withdrew from Bulgaria on 31 October 2015. Italy became an important example of targeted expansion. In October 2017, Penny acquired seven Ligurian stores from Tuodì for €9.2 million. Following that transaction, the chain was reported to have 357 Italian points of sale across 17 regions, supported by seven distribution centers. This combination of local acquisitions and an existing logistics network allowed Penny to increase its presence without relying solely on new-store construction. The brand remains part of REWE Group and operates as a private, unlisted retail business rather than an independently traded company. Its principal business continues to be discount grocery retailing, with stores supplying food, beverages, household products, and selected non-food goods. Penny’s competitive environment includes other European discount chains such as Aldi and Lidl, as well as country-specific supermarket operators. The available reference material identifies the chain’s European operations but does not establish a current presence in the United States; accordingly, the United States is not included in its operating-market list here.
- 2017
Expansion in Liguria through Tuodì store acquisition
[1]Penny takes over seven Tuodì stores in Liguria, Italy, in a transaction reported at €9.2 million.
- 2015
Exit from Bulgaria
[1]Penny ends its Bulgarian operations on 31 October 2015.
- 2014
Penny operates across seven European markets
[1]By May 2014, reference material lists operations in Germany, Austria, Bulgaria, Hungary, Italy, the Czech Republic, and Romania.
- 2010
European network reaches approximately 3,000 stores
[1]Penny is described as operating about 3,000 stores across six European countries.
- 2005
French operations transferred to Ed
[1]The French Penny business is bought by Carrefour Group's Ed brand.
- 1989
REWE Group assumes full ownership
[1]Penny becomes fully owned by REWE Group and develops as the group's discount-retail format.
- 1973
Penny is founded in Germany
[1]Leibbrand Gruppe establishes Penny as a German discount supermarket chain.
Products and positioning
Value-oriented discount supermarket focused on everyday groceries, household necessities, compact stores, and low-price shopping.
Grocery retail · 1973
Penny discount supermarkets
Penny stores are compact discount supermarkets centered on routine grocery shopping. Their assortments generally combine fresh and packaged foods, beverages, household necessities, and selected non-food products. The format emphasizes accessible pricing and operational simplicity, with the exact product mix adapted to each national market.
International grocery retail format
Penny Market
Penny Market is the name used for the brand in international markets and in general references to its European operations, including in Italy. It represents the same discount-supermarket proposition: a focused assortment of everyday food and household products supported by country-specific stores and distribution networks.
Grocery retail format
Penny Markt
Penny Markt is a regional naming variant used in Bavaria and Austria. The format provides value-focused grocery retailing and carries the Penny brand's typical emphasis on everyday essentials, compact operations, and price competition.
Brand decisions
2017
Acquisition of seven Tuodì stores in LiguriaM&ABackground
Penny pursued targeted expansion in Italy through the purchase of existing grocery locations.
Action taken
Penny acquired seven stores in Liguria from Tuodì in October 2017.
Aftermath
The transaction supported Penny's Italian network, which was reported at 357 points of sale across 17 regions and seven distribution centers.
Reported transaction value. €9.2 million (October 2017)
2015
Withdrawal from BulgariaStrategyBackground
Penny reviewed its country portfolio and ended operations in Bulgaria.
Action taken
The chain exited the Bulgarian market on 31 October 2015.
Aftermath
Bulgaria was removed from Penny's operating footprint while the brand retained its presence in other European countries.
2005
Transfer of the French business to Carrefour's Ed brandM&ABackground
Penny's French operations were transferred to Carrefour Group's Ed discount brand.
Action taken
The French stores were acquired and operated under the Ed brand rather than continuing as Penny locations.
Aftermath
Penny ceased to be the operating brand for the French business, while its broader European expansion continued in other markets.
Sources1 sources
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