Aldi Prepares for Next Wave of U.S. Growth With 5 Billion-Dollar Expansion Plan
BATAVIA, IL - Aldi has hit quadruple digits here in the States and its market takeover is far from over. The retailer hit the newswire with an epic amount of news to relate: plans to invest more than $5 billion in its latest expansion round and a new project to set up regional headquarters and a distribution center (DC) in Loxley, Alabama.
As part of this expansion, Aldi is set to open 70 new stores by the end of the year, with plans to enter a new market in Phoenix, Arizona. I can’t even handle how much news I just typed out!
“Each new store is an opportunity to serve another community, which is an honor and responsibility we do not take lightly,” said Jason Hart, CEO, ALDI US, in a recent press release. “As we continue to expand, we promise to do everything in our power to offer the lowest prices, every day, without exception. In fact, as food costs are rising across the country, we’re lowering prices on hundreds of items to meet our customers’ increased need for savings.”
This news relates to Aldi’s continuing $5.3-billion expansion plan that it hopes will position it as the third largest grocer in the United States.
Its new DC in Loxley, Alabama, valued at $100 million, will support its growth along the Gulf Coast as it seeks to further penetrate markets in Alabama, Louisiana, and the Florida Panhandle.
“We are ready to bring the Aldi difference to new markets in Alabama, like Baldwin County,” Dan Gavin, Vice President of Real Estate, Aldi. “We’re ramping up our expansion plans to meet the growing demand along the Gulf Coast.”
With a whopping $5.4 billion at the ready, it’s no wonder Aldi is confident in its market attacks. Keep reading AndNowUKnow as we cover the latest in all things retail.