Aldi wants to be the third biggest grocery chain in the US

Helen Cahill
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The discounter is planning a rapid expansion (Source: Getty)

Fast-growing German grocer Aldi has its sights set on becoming the third largest supermarket in the US.

The discount chain has been rapidly eating up market share in the UK by out-competing the 'Big Four' mainstream grocers on price.

Read more: Aldi and Lidl snap up more grocery market share as big four falter

Today it has announced a $3.4bn investment in the US. It intends to expand to open 2,500 stores by the end of 2022; currently, Aldi has 1,600 US outlets.

Aldi said its store expansion will create 25,000 new jobs in its shops, warehouses and offices.

Its main rival, Lidl, has just started opening up US stores.

Aldi's investment will be in addition to the $1.6bn funding it set aside for refurbishing 1,300 stores by 2020.

Read more: Aldi and Lidl stumble on building loyalty with customers

Jason Hart, Aldi's US chief executive, said: "We're growing at a time when other retailers are struggling. We are giving our customers what they want, which is more organic produce, anti-biotic free meats and fresh healthier options across the store, all at unmatched prices up to 50 per cent lower than traditional grocery stores."

The company said that when its expansion across the US is complete it will be catering to 100m customers every month.

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