UK discounter Aldi has announced plans to invest £3 billion in British beef suppliers over the next five years.

Aldi stated that this investment is part of its 'ongoing commitment to championing Great British quality and supporting UK producers.'

The retailer said it hoped that the investment would enable farmers to 'plan confidently' and offer security for supply chains across the country.

As part of this investment, Aldi has secured a five-year contract with its supply partner Kepak, committing £260 million to their Aberdeen Angus beef line.

Aldi said that the deal would “enhance the quality and range of beef available to customers”.

Julie Ashfield, managing director of buying at Aldi UK, said: “As the UK’s largest British beef retailer, we’re proud of our long-term relationships with British farmers across the country.

“The UK farming community plays a vital role in our food supply chains – our continued investment in British beef is in recognition of this and means we can continue to provide the best quality British products for our customers.”

This announcement follows Lidl's recent revelation of a £1.5 billion investment in British beef, made at the end of July.