Aldi has announced plans to spend $3.4bn expanding its US network as it prepares to open 900 new supermarkets during the next five years.

This news comes just three days before German rival Lidl will open its first store across the Atlantic.

Aldi has enjoyed a head start in the region, it currently has 1,600 stores in 35 US states.

"We pioneered a grocery model built around value, convenience, quality and selection and now Aldi is one of America’s favourite and fastest growing retailers," said CEO Jason Hart.

"We’re growing at a time when other retailers are struggling. We are giving our customers what they want, which is more organic produce, antibiotic-free meats and fresh healthier options across the store, all at unmatched prices up to 50 percent lower than traditional grocery stores," he continued.

9 Lidl outlets will open on June 15th on the east coast of the US and 11 more are due to open during the summer months.

They enter the market during a sustained period of grocery price deflation, prices have fallen during the past 17 consecutive months.

According to the latest Kantar World Panel figures Lidl has a 11% market share in Ireland, which is slightly below Aldi's 11.3%.