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Aldi to debut under Hofer brand

Hungary-bound Aldi Group, Germany's biggest discount food retailer, plans to make its Hungarian debut in 2008 by simultaneously opening twenty stores under the Hofer brand name, business daily Napi Gazdaság reported without citing a source.

Aldi set up a Hungarian subsidiary, Aldi Magyarország Holding Vagyonkezelő Kft, last December in a move to prepare the ground for its Hungarian market entry. The German hard discount chain has already bought 30-40 plots across the country but postponed the date for its market entry from 2007 to 2008 in order to synchronize the grand opening of its stores. Aldi in Hungary will compete with its chief rival Lidl Magyarország Kereskedelmi Bt, owned by Germany's Schwarz Group, which began opening outlets late last year and has over 60 stores today. (Napi Gazdaság)