Aldi to invest $1.8 bn to accelerate growth in Britain

The British and Irish arm of German discount supermarket group Aldi will invest £1.3 billion in its business over the next two years as it attempts to accelerate its growth in market share. The retailer plans to open another 100 new stores in Britain, expand its logistics infrastructure, including a new distribution centre in central England, and invest in technology.

It said it expected to create more than 2,000 new British jobs next year, adding to the 7,000 permanent roles created over the past two years. Aldi and German rival Lidl have grown rapidly over the last decade, forcing Britain's big four supermarkets of Tesco, Sainsbury's Asda and Morrisons to cut prices and compete more aggressively. However Aldi's market share edged lower during the Covid-19 pandemic, partly due to a lack of a significant online business. It is Britain's fifth-largest supermarket group, with 920 UK stores and an 8 per cent market share. - Reuters