UK: Aldi announces £800 million investment to accelerate expansion

German retail giant Aldi has announced an investment of £800 million ($1 billion) to expand its presence in the UK.

In a press release, the retailer descrbed the sum as its “largest ever package of annual investment”, and said it plannedto open 23 new stores before the end of the year, including Muswell Hill in London and Mere Green in Birmingham.

The company is also planning to refurbish 100 stores, expand its network of distribution centres and update technology infrastructure.

Giles Hurley, chief executive officer for Aldi UK and Ireland, commented: “British shoppers are voting with their feet and choosing Aldi as their first-choice supermarket. We’re responding with our biggest ever annual investment in Britain […] – opening more stores and building the supply infrastructure to bring high-quality, affordable groceries to millions more families the length and breadth of Britain”.

Aldi currently operates 1,000 stores in the UK but the retailer has previously announced an aspiration to increase that number to 1,500.

Source: Aldi