Dieter Schwarz controls the Schwarz Group, the largest closely held
discount grocer in Europe, which operates the Lidl and Kaufland
supermarket chains. He controls the companies through the Dieter Schwarz Stiftung, a limited liability company with a charitable purpose. The group has more than 10,000 stores in Europe and generated $83 billion in 2011 sales.
On a recent Saturday afternoon at a Lidl supermarket in London, a 500-gram slab of minced beef was on sale for 2 pounds ($3.21), half the price of the same product at a Sainsbury Local store a few blocks away.
Treatt Plc, the U.K. supplier of mango oil to the Body Shop, is considering the biggest investment splurge in its 127-year history as Chief Executive Officer Daemmon Reeve seeks to unshackle the company from family owned traditions.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Affiliates of Cerberus Capital Management LP, the private-equity firm led by Steve Feinberg, bought nine German shopping malls known as the Phoenix portfolio from Wells Fargo & Co. for an undisclosed price.
J Sainsbury Plc’s share of U.K. supermarket spending stopped growing for the first time in six months as discounters such as Aldi and the upscale Waitrose chain gnaw into the dominance of Britain’s big four grocers.