UK: Aldi to invest £1.3 billion to accelerate growth

German discount retailer Aldi has announced an investment of £1.3 billion ($1.8 billion) in the UK over the next two years to accelerate growth and market share, according to a Reuters report.

Aldi is Britain’s fifth-largest supermarket group and has experienced rapid growth over the last decade. The retailer currently has 920 stores in the UK, and is reportedly planning to use the billion-pound investment to open 100 new stores, expand its logistics infrastructure including a new distribution centre in central England, and invest in technology, in addition to creating 200 new jobs.

“Around 88% of British consumers want to shop in stores … There’s no doubt that bricks and mortar is the focus for our business”, Giles Hurley, CEO of Aldi’s business in Britain and Ireland, is quoted as saying.

Source: Reuters