Lidl GB's new announcement accelerates the retailer's initial spending plans announced in 2019
Lidl has announced plans to invest ÂŁ4 billion in British food businesses this year, as the supermarket seeks to cement its support for its farmer suppliers.
This accelerates the retailer's initial spending plans announced in 2019, with its five-year investment commitment set to be exceeded by an additional ÂŁ2 billion.
Announcing the investment, Ryan McDonnell, CEO at Lidl GB, said the farmers and producers were 'paramount' to the discounter's success.
“We see them as partners in our mission to provide households with high quality affordable produce," he added.
"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.”
Sourcing two-thirds of its core produce from the UK, Lidl works with over 650 suppliers across the country.
In 2022, almost ÂŁ500m worth of exports from these suppliers went to other Lidl markets in Europe, including ÂŁ50m of cheese.
Westcountry cheese supplier Wyke Farms has worked with Lidl since 1994 and currently has a long-term contact with Lidl GB until 2028, a deal worth ÂŁ35m a year.
As a result, Wyke is now exporting to 16 other Lidl markets, with Poland being the biggest fans of Somerset Vintage Cheddar outside of Britain.
Martin Kottbauer, chief trading officer at Lidl GB said: “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.”