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Aldi supermarket co-founder dies aged 88 (1st Lead)
Jul 28, 2010, 11:33 GMT
Berlin - The co-founder of the international supermarket chain Aldi, Theo Albrecht, has died aged 88, the company said Wednesday.
Albrecht and his brother Karl co-founded the supermarket in their home city of Essen, Germany, after World War II. The chain became one of Europe's largest retailers.
According to the magazine Forbes, Albrecht was ranked as the world's 31st richest person in 2010, with a net worth of 16.7 billion dollars.
The brothers split their company in half in 1960 - Aldi North and Aldi South - after a dispute.
Theo took control of the northern firm and went on to open stores outside Germany, in Denmark, France, Belgium, Spain, Poland and other European countries.
'Aldi mourns a modest person who always dealt with his business partners and colleagues with the greatest respect,' a statement from the company said.
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