German discounter Lidl has announced plans to invest €200 million in Ireland this year - its largest investment since entering the market in the year 2000.
The retailer will invest in both its store network and in a new distribution centre, with the aim of bolstering its portfolio of 154 stores, according to the Sunday Independent.
Lidl Ireland is currently the fourth largest grocery retailer in the country, with 10.5% market share, according to the most recent figures from Kantar Worldpanel.
The discounter has overtaken its competitor Aldi, whose share has dropped to 10.3%.
The largest single project for 2018 will be Lidl’s new distribution centre in Newbridge, Kildare, which will cost approximately €80 million. The facility received planning permission three weeks ago and will begin construction next month.
The retailer said that the new facility would be beneficial to the Irish food and drink industry, as Lidl Ireland now purchases over €700 million worth of locally-sourced goods each year.
Lidl also has several new stores planned in Dublin, Meath and Sligo, while another two will be knocked down and rebuilt in the discounter’s modern format.
Other proposed new stores, such as one in Bray, Wicklow, are still in process of the planning system.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Kevin Duggan. Click subscribe to sign up to ESM: The European Supermarket Magazine.