Discounter says spend accelerates opportunities for its suppliers into international markets
Lidl has unveiled plans to invest £4 billion in British food businesses in 2023 in a move it said cements its support for suppliers across the country.
The latest move accelerates initial spending plans announced in 2019, which saw Lidl commit to a five-year £15 billion investment in the British food industry from 2020-25. That figure is now expected to hit £17bn.
The discounter said that since March 2020, it has invested £10bn, and in 2022 almost £500m worth of exports from British suppliers went to other Lidl markets, helping them to open up additional revenue streams and grow their businesses.
Lidl pointed out that it is a champion of British farming and noted that it sources two-thirds of its core produce from the UK, working with over 650 suppilers and giving them access to local and international markets.
Ryan McDonnell, CEO 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.”
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.”