Aldi has confirmed it is extending its temporary shorter payment terms initiative for small and medium Irish suppliers for the entirety of 2021. The initiative was introduced at the start of the Coronavirus pandemic to ensure Aldi’s suppliers are paid as quickly as possible.
The commitment means Aldi will continue to process payments for suppliers that transact up to €1 million worth of business annually within five working days. Over 200 Irish food and drink producers Aldi partners with will continue to benefit from the shorter payment terms this year.
Aine Faughnan, Managing Director, Dromod Boxty noted: “Dromod Boxty has benefited from the Aldi fast track payment scheme massively. The quick turnaround has ensured while we are producing at a higher volume we are in a position to continue to do so. Cash Flow is so important right now for small businesses so schemes like this really make a huge difference.”
Commenting, John Curtin, Aldi Ireland’s Group Buying Director said: “These past months have been a huge challenge for many people and businesses, including Ireland’s food and drink sector. In recognition of these hardships, we are further extending the shorter payment terms we introduced at the beginning of the pandemic. Supporting our Irish supply base is of the utmost importance, and we thank all our suppliers for their hard work over Covid-19 in keeping our shelves fully stocked.”
Aldi is committed to growing its Irish supply base and increasing the number of Irish products available in its stores. It has invested more than €3,000,000 in its Grow with Aldi supplier development programme since 2018, which provides an opportunity to Irish food and drink companies to gain a listing in Aldi’s 145 stores. Aldi is now seeking producers to apply for its 2021 programme. To date, over 500 Irish suppliers have entered the Grow with Aldi programme.
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