Aldi has announced plans to grow its presence in the Australian market, with media reports suggesting the discount retailer will spend A$700m to establish stores in both South Australian and Western Australia.
The capital for the expansion will come from the Aldi Australia’s domestic cash flow, rather than the supermarket chain’s German parent company.
“We have been self funded for a while,' Aldi Australia managing director Tom Daunt told the Sydney Morning Herald. 'All profits we make in Australia are invested back into the Australian market.'
The invest will see around 130 stores built across both states. Distribution centres will also be constructed at Perth’s Jandakot Airport and Adelaide’s Regency Park.
Aldi currently operates over 350 stores along Australia’s eastern seabord, with annual sales totaling an estimated A$5.3bn in 2013.
