Aldi is on an expansion roll, trotting out growth strategies right and left. Just last week, we reported that German retailer Aldi opened its newest and largest distribution center in England. However, with growth comes the need for restructuring, as Aldi recently announced the sale of a number of logistics centers in Australia, collectively worth $471 million USD ($700 million AUD).
According to news source The Urban Developer, Aldi enlisted real estate firm JLL to sell the logistics centers, which are expected to reach a combined valuation of $700 million AUD and generate $30 million AUD (about $20 million USD) in annual income. The initial four Aldi warehouses, located along the east coast of Australia, will be sold and likely leased back in order to place proceeds back into the front line of its supermarket operations.
“We expect corporate sale and leaseback to be a significant driver in 2020, which will help corporates reinvest their capital back into their operating streams,” JLL Head of Capital Markets Tony Iuliano said.
The news site stated the move by Aldi comes as demand strengthens for logistic space, due to the growth of e-commerce and online retailing.
What’s next on the docket for Aldi? Deli Market News will be on the hunt for the latest updates.