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Lidl GB to invest £4 billion into British food industry

Posted: 31 January 2023 | | No comments yet

Leading food retailer Lidl GB has committed to investing in the British food industry, promising £4 billion for food businesses throughout 2023.

Lidl Gb

Lidl GB has announced that it will be investing £4 billion into British food businesses in 2023, accelerating its initial spending plans announced in 2019.

The company previously announced a five-year £15 billion investment commitment in 2019 that would stretch between 2020 and 2025, however with its recent update, the figure is now expected to hit £17 billion.

Lidl GB has claimed that it sources two-thirds of its core produce from the UK and works with 650 suppliers across the country.

“The farmers and producers that supply us, some of which have been with us for decades, are paramount to the success of our business,” explained Ryan McDonnell, CEO at Lidl GB.

“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.”

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Also commenting on the investment, Martin Kottbauer, Chief Trading Officer at Lidl GB said: “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.”

The supermarket has summarised its latest plan by saying it “builds on existing initiatives and commitments to support British food and farming businesses”.