The German-based supermarket retailer Aldi has announced its plans to expand in Lithuania.
The Giant supermarket Aldi in Lithuania UAB Lidl Lietuva has signed a $56.67m agreement with Finland-based Nordic Investment Bank (NIB) to open more stores in the country.
Lithuanian customers will be able to try the special shopping experience that Aldi offers, low prices and more organic products.
Henrik Normann, president and CEO of NIB said: “The expansion is in line with Lidl’s growth strategy in the Baltic countries. Food products account for a significant share of Lithuanians’ household expenditure, so market diversification will have an impact on disposable income.”
Aldi has for now 35 stores in Lithuania and with this agreement is expected to raise its sales in the Lithuanian market.