Schwarz Group reportedly plans record investment for 2019 | Progresiv

Reports in the German trade press suggest the parent of Lidl and Kaufland is seeking to bankroll a 9 billion euros funding in its current financial year, which would be a record after the 7 billion euros investment last year.

The company is said to have approached Bayern LB and Société Générale to find lenders for the project.

While some of the capital would support ongoing US expansion, remodelling its European estate is a main focus as Schwarz targets 100 billion euros in sales. While this is expected to increase the debt burden which reportedly rose by 3 billion euros to 17.3 billion euros last year, CEO Klaus Gehrig sees the capitalisation as an “investment in the future”. (www.kantarretailiq.com)