UK supermarket chain Aldi has announced plans to invest £3 billion in its British beef suppliers over the next five years.
Through this funding initiative, Aldi aims to enable farmers to plan effectively and provide greater security for beef supply chains throughout the UK.
£260 million of the investment will be allocated to the supermarket’s supply partner Kepak via a five-year contract, specifically supporting the Irish meat supplier’s Aberdeen Angus beef.
In addition to enhancing Aldi’s offering of British produce, the deal is set to improve the quality and variety of beef available to its customers across the UK.
Julie Ashfield, managing director of buying at Aldi UK, stated: “As the UK’s largest British beef retailer, we’re proud of our long-term relationships with British farmers across the country. The UK farming community plays a vital role in our food supply chains – our continued investment in British beef is in recognition of this and means we can continue to provide the best quality British products for our customers.”
In a similar effort to Aldi’s, British supermarket Lidl has also committed to supporting the beef industry. In July, Lidl announced plans to invest £1.5 billion in the British beef sector over the next five years and, in April, pledged £500 million to strengthen the country’s pork industry.
This announcement is the latest in a series of initiatives from Aldi. In June, the supermarket revealed a new €125 million five-year contract with Dawn Meats, aimed at boosting its beef supply and investing in the Irish beef sector. The previous month, Aldi signed a new £750 million agreement with AC Goatham & Son, a family-owned fruit farm based in Kent, UK. Earlier this year, in February, Aldi announced a £550 million investment to expand and enhance its store and distribution network across the country.