Lidl has announced plans to invest £4bn in the British food business in 2023, as it looks to cement its support for suppliers across the country.
The move accelerates the retailer’s initial spending plans announced in 2019, with its five-year investment commitment set to be exceeded by an additional £2bn.
Ryan McDonnell, CEO at Lidl GB, said: “The farmers and producers that supply us, some of which have been with us for decades, are paramount to the success of our business. We see them as partners in our mission to provide households with high-quality affordable produce, and for many, working with Lidl GB and being part of our growth has opened opportunities for their own expansion, both here in the UK and across the globe.”
Martin Kottbauer, Chief Trading Officer at Lidl GB added: “Providing our suppliers with the security and certainty needed for them to invest and grow has been a big focus for us over the years. It’s why we’ve led the industry on the introduction of longer-term contracts, and it’s why our continued investment in the British food and farming industry remains an absolute priority for our business.”