Cash-strapped consumers may soon be getting more discounted options.
Discount grocery store operator Aldi plans to invest more than $9 billion to open 800 new stores throughout the U.S. in a five-year expansion plan, the company said in a statement.
Aldi —a German brand whose U.S. arm is headquartered in Batavia, Illinois — will cut the ribbon on new brick-and-mortar stores through a combination of new openings and store conversions.
Jason Hart, Aldi’s chief executive officer, said the company’s growth plan is driven by a demand from customers, especially those that are more focused than ever on saving money.
“Our growth is fueled by our customers, and they are asking for more Aldi stores in their neighborhoods nationwide,” he said.
As part of Aldi’s U.S. expansion plans, it plans to add 330 new stores in the Northeast and Midwest regions by the end of 2028. The 61-year-old retailer also has its sights set on expanding to the West, with curtain-raising targets in cities like Las Vegas, where it does not yet have a presence.
Its revamping efforts will focus on the Southeast. Aldi said that its recent acquisition of Southern Grocers and its Winn-Dixie Supermarket stores will undergo a revamp to fit the Aldi model. The company plans to take a phased approach to the renovations, with reopenings taking place in 2025, the company said.