December 20, 2013 11:55 AM
A general view of a branch of British food retailer Aldi in London on February 9, 2013. (AFP Photo/Will Oliver)
Frankfurt (AFP) - German discount supermarket chain ALDI said Friday it will invest $3.0 billion (2.2 billion euros) in expanding its presence in the United States over the next five years.
"ALDI today announced a five-year strategic plan to open 650 new stores across" the US, the group said in a statement.
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," according to the statement.
The $3.0 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.