Lidl to invest £4 billion in UK food businesses in 2023
Lidl GB is to invest £4 billion in British food businesses in its current financial year as it looks to provide further support for its suppliers.
In 2019, the supermarket committed to a five-year £15 billion investment but this figure is now expected to rise to £17 billion.
Sourcing two-thirds of its core produce from the UK, Lidl GB works directly with over 650 suppliers across the UK.
Ryan McDonnell, chief executive at Lidl GB, said: “The farmers and producers that supply us, some of which have been with us for decades, are paramount to the success of our business. 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.”
Never Miss a Retail Update!In 2022, almost £500 million worth of exports from British suppliers went to other Lidl markets. Lidl has revealed that British cheese is one of the most popular British exports for Lidl shoppers overseas, with Polish customers being the biggest fans of Somerset Vintage Cheddar.
Martin Kottbauer, chief trading officer at Lidl GB, added: “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.”
