Aldi Nord has announced to invest five billion euro in remodeling its store network, the largest investment ever for the German company and similar to what Aldi Süd already announced a while ago.
Not yet approved
The new investment plan still needs to be approved by Aldi Nord’s three governing foundations. Two have already done so, but one still needs to give its approval. The goal is to use its own money to remodel more than 4,800 European stores, staying clear of any new debt. Aldi is divided in a Nord and a Süd part, Nord being the division that manages the Belgian and Dutch stores.
Only last month, Aldi Süd announced it would invest three billion euro to expand its American store network to 2,500 stores by 2022.
In the past few years, Aldi (like its competitor Lidl) has turned into a huge competitor for traditional supermarkets. An LZ Retailytics analysis says it is poised to become the second largest European supermarket company in 2020, surpassing brands like Carrefour, Tesco and Metro. The German discount supermarket chain was only ranked fifth last year.
