German discount retailer Aldi is reportedly planning to invest more than £500m (US$944.5m) over the next five to seven years in the expansion of its UK operations.
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The company, which currently has 278 UK stores, aims to increase that number to 450 within five years, reported The Financial Times. The company recently opened a distribution centre in Scotland, where it operates just 19 outlets, to support its expansion there.
Aldi, which has less than 1% of the UK grocery market, also plans to relocate some of its existing UK stores; it believes about a third of them are situated in the wrong place.
Despite their proven expertise at offering low-priced groceries, discount retailers such as Aldi and rival Lidl have made less of an impact in the UK than in some other European markets.
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