Trader Joe's Owner Dies at 88

By Greg Wilson
|  Wednesday, Jul 28, 2010  |  Updated 10:00 AM PDT
View Comments (
)
|
Email
|
Print
In Memoriam

AFP/Getty Images

(FILES) - Picture taken on December 17, 1971 shows Theo Albrecht, the joint founder of budget supermarket giant Aldi, waving at his villa in the western German city of Essen. Albrecht has died on July 14, 2010 aged 88, the firm said on July 28, 2010. AFP PHOTO / ROLAND SCHEIDEMANN GERMANY OUT (Photo credit should read ROLAND SCHEIDEMANN/AFP/Getty Images)

advertisement
Photos and Videos
More Photos and Videos

The supermarket pioneer behind Trader Joe's and the international grocery chain Aldi died at his home in Germany.

Theo Albrecht, who was 88, was a German soldier in World War II who returned home after the war to his parents' grocery store in Essen, Germany. By 1950, he and his older brother Karl had expanded to 13 stores. Aldi, an acronym for Albrecht's Discounts, now has more than 4,000 stores in Germany alone.

Albrecht bought Monrovia, Calif.-based Trader Joe's in 1979, and oversaw exponential growth in the specialty grocer over the last 30 years.

Albrecht was worth an estimated $16.7 billion, according to Forbes.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out