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Lidl announces €19 billion UK investment ahead of Brexit

The announcement comes ahead of the current Brexit date of 31 October. Credit: Belga

The German supermarket chain Lidl will invest £15 billion pounds (€19 billion) in its expansion in the United Kingdom.

The chain wants to open up to 60 supermarkets next year, well after the current leave date of 31 October, Belga reports.

The UK market is currently dominated by four major players (Tesco, Sainsbury’s, Asda and Morrisons) but German discounters have stormed. Aldi and Lidl currently have a 14% market share.

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Lidl wants to open new stores in 2020, including smaller units in central London.

Aldi and Lidl will face fewer consequences of the Brexit in the United Kingdom their major British rivals, due to a greater reliance on local products, according to market analysis by Kantal Retail analysis.

Lidl had previously informed British trade paper The Grocer that Brexit would have no impact on its investment plans for the United Kingdom.

Jules Johnston
The Brussels Times