Aldi has pledged £800 million to accelerate its expansion plans in the UK.
The budget supermarket chain intends to increase its UK-wide footprint from 1,000 stores to 1,500, starting with 23 new store openings by the end of 2024.
It comes as new financial figures show annual sales increased by more than 15% to £17.9 billion in 2023, representing its highest ever period of sales growth. Pre-tax profit increased to £536.7 million from £152.6 million.
Giles Hurley, chief executive of Aldi UK and Ireland, said: “British shoppers are voting with their feet and choosing Aldi as their first-choice supermarket. We’re responding with our biggest ever annual investment in Britain.
“For every £1 of profit generated last year, we’re investing £2 this year – opening more stores and building the supply infrastructure to bring high-quality, affordable groceries to millions more families the length and breadth of Britain.”