Aldi plans multi-billion US expansion

German discount supermarket chain Aldi has said it will invest $3 billion (€2.2 billion) in expanding its presence in the United States over the next five years.

Aldi plans multi-billion US expansion
The finishing touches being applied to an Aldi food market in Washington D.C. Photo: Picture Alliance/Dpa

"Aldi today announced a five-year strategic plan to open 650 new stores across" the US, the group said in a statement on Friday.

Aldi already operates nearly 1,300 stores in 32 states in the US and describes itself as the "leading low-price grocer."

"To reach its aggressive goal, over the next five years, Aldi plans to accelerate the pace of new store openings to an average of 130 per year, up from an average of 80 stores per year in recent years," the group said in a statement.

The $3 billion investment would be for land, facilities and equipment.

The expansion drive was expected to create more than 10,000 new jobs at Aldi stores, warehouses and division offices, it said.

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