The retailer had committed to investing £15bn in the British food industry over a five-year period that is set to end with the conclusion of FY24.
However, Lidl has said that investment during that period looks set to reach £21bn, meaning it will have exceeded its target by 40%.
In the past financial year alone, Lidl has invested £5bn across a range of sectors and categories.
These moves include a £1bn investment into British free-range eggs, £1.5bn for the beef industry, a £500m injection into the British pork sector and more £70 million for British root veg suppliers.
'Proud of our farmer relationships'
Lidl GB chief commercial officer Richard Bourns said that as the retailer marked 30 years of operations in Britain, it was a fitting moment to reflect.
“One of the things we’re most proud of are the strong relationships we’ve built with British suppliers, who have grown with us over the years,” Bourns added.
“Now more than ever, we remain committed to supporting British farmers, ensuring we’re a dependable partner to those who put quality, home-grown food on Lidl shelves across the country.
“By continuing to invest in British agriculture, we’re helping to ensure our suppliers can thrive in the future, providing the British-sourced products our customers love all year round.”
Around 90% of products on sale in Lidl stores are own brand, compared to 56% across the sector.
As a result, the retailer has direct relationships with more than 650 suppliers from across the country, a model which it believes benefits producers.
First Lidl farming conference
Lidl has also announced the expansion of its ‘Grassroots’ programme with the launch of the ‘Grassroots Farming Conference’ as it aims to strengthen ties with British farmers.
The inaugural conference will take place between 19 and 20 February 2-25, at Harper Adams Agricultural University.
Key speakers include NACFT chair Alex Burrows, director of Green Farm Collective Michael Kavanagh and Stephanie Berkeley from the Farm Safety Foundation.
