Karl Albrecht, co-founder of Aldi, has died aged 94.
The first Aldi store (the name is derived from Albrecht and Discount) was born when Albrecht, along with his brother Theo, took over their mother’s grocery store in Essen, Germany in 1946.
By 1961 store numbers had hit 300, but the brothers fell out over differences of opinion over strategy and the chain was split into two: Aldi Nord and Aldi Sud.
Karl took over Aldi Sud, and the rights to the brand in the UK, the US and Australia. Theo, who died in 2010, took northern Germany and the rest of Europe. In 2014, worldwide store numbers are approaching 10,000, with the majority in Germany.
The deeply private Albrecht took a back seat from operations in 1994, but remained as chairman of the board. In 2002 he retired altogether.
At the time of his death, Forbes valued Albrecht at £15.7bn.
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