Aldi has unveiled plans to spend £800 million to ramp up expansion across the country in its largest annual investment as it reported surging sales and profits.

The discount supermarket, which is opening 23 stores nationally by the end of the year, including one in Horsham, said it will also revamp another 100 shops as part of the investment plans.

A planning application for a new Aldi in King George VI Avenue, Hove, was approved last week.

Aldi – Britain’s fourth largest supermarket with more than 1,020 stores and more than 45,000 staff – said it would also spend £1.4 billion on expansion over two years as it works towards a long-term plan for 1,500 sites in the UK.

The Argus contacted Aldi for more details on the latest Sussex store in Horsham’s Tanbridge Retail Park in Albion Way.

A spokesman for the supermarket said he could not provide more information other than that it will open before the end of the year and that work is progressing well.

READ MORE: Hove Aldi store gets the go-ahead despite warning of 'horrendous traffic'

The supermarket will have parking for cars and bikes and electric vehicle charging points and is set to create up to 50 new jobs.

Details of the investment came as German-owned Aldi said it notched up its highest-ever annual UK and Ireland sales growth of 16 per cent to £17.9 billion for 2023, up from £15.5 billion in 2022.

Giles Hurley, chief executive of Aldi UK and Ireland, said: “For every £1 of profit generated last year, we’re investing £2 this year – opening more stores and building the supply infrastructure to bring high-quality, affordable groceries to millions more families the length and breadth of Britain.”

He added: “As we head towards the Christmas trading period, we’re all set to launch our biggest and best-ever seasonal range, including hundreds of premium range products at unbeatable prices for our customers.”

Horsham District Council gave the new store the green light with planning permission approval in November 2022.