Aldi Announces US Expansion

Aldi (Essen, Germany) announced it will be investing $3.4 billion to expand its U.S. footprint to 2500 stores by 2022, which would make it the third-largest grocery retailer in the country. The company plans to open about 200 stores each year over the next five years.

“We’re growing at a time when other retailers are struggling,” said Aldi’s Chief Executive Officer Jason Hart.

This announcement is in addition to the $1.6 billion the company has earmarked to remodel 1300 of its 1600 U.S. stores, bringing its total investment in U.S. stores to $5 billion. The announcement came three days before its competitor Lidl (Neckarsulm, Germany) opened its first U.S. stores, reports Food Dive.