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German discount grocer Aldi has announced plans to further advance its rapid expansion into America by adding an additional 900 locations to its store count in the next five years, 400 of which will open by the end of next year.
The plan calls for investing $5B to open stores and remodel existing locations, the Wall Street Journal reports. Those openings mean Aldi would operate some 2,500 locations across the U.S. by 2022, making the German chain the third-largest grocer in the country by store count, trailing only Walmart and Kroger.
A recent Bain & Co. report said discount grocery stores are expected to grow by up to 10% each year through 2020, or five times more than traditional grocers. Another German discount grocer, Lidl, is moving to capture some of that growth for itself. Lidl recently announced the opening locations of its first nine U.S. stores and a partnership with fashion designer and supermodel Heidi Klum. Like its competitor Aldi, over the next few years Lidl aims to open hundreds of U.S. stores.
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