Aldi has announced plans to invest over £550 million in expanding and enhancing its UK store and distribution footprint throughout 2024.
The investment will support the opening of new stores across various locations while upgrading existing stores. Improvements to its distribution centres are also planned.
Aldi’s ambitious expansion is expected to generate over 1,500 new jobs countrywide, with additional employment opportunities within its current stores, Regional Distribution Centres, and UK offices.
One of the largest supermarkets operating in Britain, Aldi currently operates more than 1,000 stores across the UK.
Both Aldi and fellow German budget chain Lidl were the two largest growing supermarkets in the UK last year, increasing their total consumer spend for 2023 by 9.9% and 13.8% respectively.
Market share for the two companies jumped by two percentage points for Aldi and by five percentage points for Lidl as customers switched to cheaper supermarkets to help save money during the cost-of-living crisis.
Giles Hurley, chief executive of Aldi UK and Ireland, stated: “We’re continuing to welcome more and more new customers through our doors – with people coming for our low prices but staying for our award-winning quality and British sourcing.
“However, there are still areas of the country that don’t have an Aldi, or that need more or larger stores to meet demand. That is what our 2024 expansion plans aim to address.”
As part of its growth strategy, Aldi is actively seeking freehold town centre or edge-of-town sites suitable for new stores.