Ram raiders smashed their way into a shop using a stolen JCB digger and made off with a free-standing cash machine inside the premises.
The incident occurred just after 3am at the Co-op food shore on Market Street in Carnforth.
After forcing their way in, the suspects used the JCB to drag the ATM cash machine outside, from where it was taken away in another vehicle.
Police say there were two vehicles at the scene - a white Mitsubishi pick-up truck and a dark coloured SUV or station wagon type vehicle, in which the suspects made off.
The JCB was abandoned at the scene.
Police cannot say how much money was in the cash machine or the estimated cost of the damage caused to the premises.
The Co-Op had only just re-opened two weeks ago following a £580,000 refurbishment
Inspector Phil Broughton, of Lancashire Police, said: “There is obviously a full police investigation into the identity of the offenders and the vehicles.
“We would appreciate any information which could help us, particularly if anyone saw a JCB or either of the vehicles in or around Carnforth in the early hours of this morning.”
Anyone with information should phone the police non-emergency number 101, quoting reference number “150 of the 5th of April”