Theo Albrecht, Who Helped Build the Aldi Grocery Chain, Dies at 88

FRANKFURT — Theo Albrecht, who with his brother Karl used lessons learned in the lean years of postwar Germany to build an international grocery empire, died Saturday in Essen, Germany. He was 88.

Both companies use the Aldi name, which derives from “Albrecht discount,” and continue to cooperate, including sometimes running the same promotions on the same day.

Theo Albrecht’s half of the business, Aldi Nord, with 5,200 stores, had estimated sales last year of 24.9 billion euros, or $32.4 billion, according to Planet Retail. The business overseen by Karl Albrecht, Aldi Süd, had estimated sales of 27.9 billion euros at 4,200 stores. The companies, which are privately held, do not release financial information.

At Trader Joe’s, Karl Albrecht applied some Aldi principles to upscale items like California wine, olive oil and goat cheese.

more at http://www.nytimes.com/2010/07/29/business/29albrecht.html?src=me&ref=business