Injection of €126m into Aldi's Irish units

THE HOLDING company for Aldi Stores (Ireland) Ltd has injected just over €126 million into its Irish operations since November.

Filings lodged at the Companies Registration Office show that Aldi Stores (Ireland) Ltd recently allotted new shares to its British-based holding company, Aldi Stores Ltd, in two separate tranches in return for cash.

On November 11th, 25 million new ordinary shares worth €2 each were issued and allotted to Aldi Stores Ltd, raising €50 million for the Irish firm. Just over a month later, a resolution was passed to increase the firm’s authorised share capital, enabling a second allotment of shares to take place, generating €76. 3 million.

A spokeswoman for Aldi said it had no comment to make on the allotment of the new shares or any restructuring implications.

The German-owned discount supermarket chain, which opened its first supermarket in Ireland in 1999, has more than 70 stores and employs about 1,200 people here.

Last May it announced a €350 million expansion programme in Ireland, saying it planned to open 35 stores over the next three years.

Details of Aldi’s financial performance in Ireland are unavailable as returns for Ireland are conflated with those for the UK. The latest available figures show turnover at its UK and Irish operations was £2 billion (€2.29 billion) in 2008, up 32 per cent on 2007.