Supermarket, Lidl GB, has announced a £4bn investment package to support businesses in the British food industry.
In 2019, the discounter shared a five-year plan to plough £15 billion into businesses, and this latest announcement takes the predicted total investment to £17billion.
Claiming to hold the largest market share in the volume of traded fresh British pork, the company has long been a supporter of the UK’s food and farming industry with two-thirds of its core produce being sourced from the UK. In 2022, almost £500m worth of exports from British suppliers went to other Lidl markets, opening up additional revenue streams and allowing them to grow their business.
Lidl CEO, Ryan McDonnell, said that farmers and producers are vital to the company’s success: “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, agreed that investing in the British industry is a high priority for the company: “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.”
The discounter works directly with over 650 suppliers across the country, giving them access to local and international markets.