Discount grocery chain Aldi Inc. plans to invest $3.4 billion as it plans to add more stores nationwide over the next five years.
Aldi, which currently operates more than 1,600 stores in 35 states in the U.S., plans to expand to 2,500 stores nationwide by the end of 2022. The German-owned grocer said it will be adding 25,000 new jobs in stores, warehouses and offices as part of the expansion plan.
“We’re growing at a time when other retailers are struggling,” Jason Hart, CEO, said in a statement.
The expansion is in addition to a $1.6 billion capital improvement plan announced by Aldi in February that called for more than 1,300 stores to be remodeled and expanded by 2020.
As part of that capital improvement plan, Aldi is investing $49 million to upgrade 37 of its St. Louis-area locations.
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