Aldi to invest $3.4bn in US store expansion
German discount supermarket chain Aldi is planning to invest $3.4bn to expand its presence in the US.
As part of its planned expansion, the retailer plans to increase the total number of its stores in the country from 1,600 to 2,500 outlets over the next five years, as well as create 25,000 new jobs.
With this move, Aldi is anticipated to become the third largest grocery store by count in the country and serve 100 million customers a month.
Aldi CEO Jason Hart said: "We pioneered a grocery model built around value, convenience, quality and selection, and now Aldi is one of America's favourite and fastest growing retailers.
"We're growing at a time when other retailers are struggling. We are giving our customers what they want, which is more organic produce, antibiotic-free meats and fresh healthier options across the store, all at unmatched prices up to 50% lower than traditional grocery stores."
Aldi is also spending $1.6bn to remodel 1,300 US stores by 2020.
The new store concept will focus on fresh items, including more robust produce, dairy and bakery sections.
Aldi’s remodelled stores will feature a modern design, open ceilings, natural lighting and environmentally friendly building materials such as recycled materials, energy-saving refrigeration and LED lighting.
The company also continues to increase its range of fresh and sustainable seafood, organic items from its SimplyNature line, and speciality wines and cheeses, as well as Little Journey baby products.