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Aldi Spends $1.6 Billion on Upscale Look With Downscale Prices

  • German discount supermarket chain revamping 1,300 U.S. units
  • Sleeker stores pit Aldi against Whole Foods’ 365 locations

Low-brow grocer Aldi is making things a little more posh, part of a plan to steal market share from the big supermarket chains.

The discounter is spending $1.6 billion to upgrade 1,300 U.S. stores while keeping its prices low. It’s the biggest remodeling investment ever by Aldi U.S., which is controlled by a faction of Germany’s billionaire Albrecht family.