Lidl Commits to $19 Billion Agreement with British Suppliers
LONDON, ENGLAND - Lidl Great Britain (Lidl GB) has announced that it will be investing £15 billion (U.S. $19 billion) in British suppliers over the next five years. As a trade news writer, whenever I hear news of big-box grocers getting directly involved with suppliers, my ears instantly perk up.
This investment, a press release noted, comes at a time when the discount grocer’s growth continues to skyrocket, and will provide its suppliers with the support needed to grow their own businesses. The introduction of longer-term contracts will provide further stability, and a new young farmers program will offer support for new talent within the industry.
“As our business continues to grow, it’s vital that our suppliers remain at the heart of our growth plans, and that is why we are committing to investing at least £15 billion over the next five years. Our business is only ever as good as our suppliers’, so our investments and commitments are key to ensuring that they can invest and expand with us,” stated Ryan McDonnell, Chief Commercial Officer.
In addition to the above initiatives, Lidl has has also pledged to increase sales of fresh produce by over 10 percent over the next 12 months.
Will Lidl US follow in Great Britain’s footsteps? Only time will tell, and AndNowUKnow will be here to tell you.