Aldi announced earlier this month that it would invest $3.4 billion to expand to 2,500 locations in the U.S. by the end of 2022. Currently Aldi has 1,600 locations and is in the midst of a $3 billion expansion effort to have 2,000 stores by the end of 2018.
If they reach 2,500 stores, Aldi would be the third largest grocery chain in the country. They would surpass Albertsons and trail only Walmart and Kroger.
A related but separate initiative was announced earlier this year to invest $1.6 billion in 1,300 store renovations.
Aldi's large capital investment comes at a time when they and American newcomer Lidl are touting themselves as trendy, less expensive alternatives to traditional grocery stores.