Lidl, the German discount retailer, is set to enhance its investment in the British food industry by 40%, reaching £21bn by the end of 2024.
- The retailer’s strategic move is exceeding its initial five-year commitment of £15bn aimed at bolstering local farming.
- In the past year, Lidl allocated £5bn to various sectors, strengthening its support for British agriculture.
- Two-thirds of Lidl’s permanent product range comes from British suppliers, ensuring local produce is prioritised.
- Lidl is initiating a Grassroots Farming Conference to foster ties with farmers and discuss pressing sectoral challenges.
Lidl’s dedicated investment strategy sees the German discount retailer increasing its financial commitment to the British food industry by a substantial 40%. This proactive approach means Lidl aims to invest £21 billion by the end of the 2024 financial year, a significant rise from its original pledge of £15 billion over five years.
In the last 12 months, Lidl has channelled approximately £5 billion across various sectors. This investment is not merely financial; it represents Lidl’s continued effort to champion British agriculture. The company’s focus remains on providing robust support to local farmers, thereby enhancing the agricultural sector’s sustainability and growth capabilities.
Currently, Lidl sources two-thirds of its permanent range from British suppliers. This commitment ensures that 100% of its essential fresh produce, specifically everyday milk, butter, eggs, cream, pork, chicken, and beef, originates from within the UK. Such a strategy highlights Lidl’s prioritisation of local produce and its support for British farming as a cornerstone of its business model.
Adding to this, Lidl is preparing to launch a Grassroots Farming Conference in February. The conference aims to solidify relationships with local farmers and address pivotal issues impacting the sector. Noteworthy topics on the agenda include discussions on agricultural policy and mental health, featuring prominent figures such as Alex Burrows and Michael Kavanagh.
Richard Bourns, Lidl GB’s chief commercial officer, has emphasised the importance of the partnerships forged with British suppliers over the years. He notes that support for British farmers remains paramount, ensuring Lidl continues as a reliable partner committed to quality home-grown produce on store shelves throughout the year.
Lidl’s sustained and increased investment demonstrates its unwavering support for British agriculture, securing future growth for local producers.
