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Aldi to ramp up support for British suppliers with £3.5bn investment

// Aldi to spend an additional £3.5bn on UK-produced food and drink annually within the next 5 years
// The initiative will help over 1000 small businesses in its supply chain
// Aldi is also investing £500m in new and upgraded stores, distribution centres and its supply chain in 2021

Aldi is ramping up its support for British suppliers by unveiling plans to spend an extra £3.5 billion on UK-produced food and drink annually within the next five years.

The initiative will help over 1000 small businesses in its supply chain as the discount supermarket looks to also extend an agreement to pay smaller suppliers without delay to the end of 2021.

Aldi also said it is investing £500 million in new and upgraded stores, distribution centres and its supply chain in 2021, which will create more than 4000 jobs.

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“We are expecting significant sales growth in 2021 as we open new stores and bring Aldi to more locations across the UK,” Aldi chief executive Giles Hurley said.

“With the vast majority of our grocery products now coming from British suppliers, our growth will lead to additional jobs and investment in our UK supply chain.”

Aldi is the UK’s fifth largest supermarket with more than 900 stores and 36,000 employees.

It said it sources its core range of fresh meat, eggs, milk, butter and cream from British suppliers, and the new commitment would create opportunities for hundreds of UK-based food and drink producers.

The Lidl rival launched immediate payment terms for small suppliers at the start of the coronavirus crisis and will now continue until the end of next year.

This means it will continue to process payments for suppliers with an annual turnover of less than £1 million with Aldi as soon as they are submitted.

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The post Aldi to ramp up support for British suppliers with £3.5bn investment appeared first on Retail Gazette.



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