The German supermarket chain Lidl had been negotiating in 2026 the possible acquisition of Ukraine's largest grocery retailer ATB. The parties did not reach an agreement, but they may return to discussing the deal after the war ends.

This was reported on November 11 by Forbes Ukraine citing a source in ATB's management and two investment market representatives.

According to the publication, the talks lasted from March to July 2026. The German side engaged the consulting company Deloitte for a preliminary analysis of the Ukrainian retailer's financial indicators. At the same time, a full due diligence was not carried out.

Forbes notes that this is at least the third case when foreign investors considered the possibility of acquiring ATB. Despite maintaining contacts between the parties, there is currently no agreement to sell the company.

ATB is the largest grocery chain in Ukraine by the number of stores and turnover. The company has been operating in the market since 1993, when its history began with six grocery stores in Dnipro.

According to official data from ATB Corporation, at the beginning of 2026 the chain had 1,319 stores in 22 regions of Ukraine. The company continues to open new stores, restore damaged ones, and develop logistics infrastructure.

In 2025, ATB's turnover reached UAH 294.2 billion including VAT and excise tax, an 18% increase compared to the previous year.

During the year, customers made over a billion purchases in the chain's stores. According to the company, over three million Ukrainians visit its stores daily.

Meanwhile, the potential buyer of ATB is one of the largest players in the European food market. Lidl is part of the German Schwarz Group, which also owns the Kaufland chain and develops production, logistics, and technology business segments.

According to the official financial report of Schwarz Group, in fiscal year 2025, Lidl's revenue amounted to EUR 140.2 billion, up 6.1% year-on-year.

The total revenue of all Schwarz Group companies reached EUR 185.6 billion. The group operates about 14,500 Lidl and Kaufland stores in various countries and employs 604,000 people.

Schwarz Group continues to expand its international presence. In fiscal 2025, its retail chains increased the number of stores by 300, and the group's total investments amounted to approximately EUR 9 billion. For fiscal 2026, more than EUR 10 billion in investments are planned across all business areas.

The acquisition of ATB could provide Lidl access to an already established nationwide retail network, customer base, and logistics infrastructure. This would allow a potential investor to develop business in the Ukrainian market without the need to build a store network from scratch.

At the same time, such a scenario remains only a possible consequence of a potential deal. Currently, the parties have not announced agreed terms of sale, and the prospects for resuming negotiations remain uncertain.

Source: ATB Corporation, Schwarz Group