Lidl to invest 1.5 billion euros in Spain over 4 years

Lidl, the popular German discount supermarket chain, has announced that it will invest €1.5 billion in Spain between 2021 and 2024.

Lidl, the popular German discount supermarket chain, announced today, September 23, that it will invest €1.5 billion in Spain between 2021 and 2024

The supermarket chain, which currently has more than 17,000 employees and 630 shops across Spain, is planning to open over 150 new locations and four logistics hubs by 2024.

During the pandemic, supermarkets and food producers have benefited from people spending more money on groceries as restrictions on eating out at restaurants or cafes and socialising forced them to stay at home.

A rival low-cost supermarket DIA DIDA.MC cut first-half losses by over 44.4 per cent earlier this month, and rice and pasta maker Ebro Foods EBRO.MC saw an annual profit increase of 36 per cent in 2020.

“This ambitious expansion plan responds to our firm determination to continue boosting our business in Spain,” Imanol Zabala, manager of Lidl Expansion & Real Estate in Spain, said in a statement.

The development for Lidl in Spain will focus mainly on the Madrid region, where it is planning to invest over €2 million over the next four years and open 50 new shops.

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