Theo Albrecht(1922-2010)
Albrecht grew up with his brother Karl in the Essen suburb of Schonebeck in poor conditions. The father worked as a miner; Due to the father's inability to work, the mother ran a grocery store to support the children. After school, Karl began commercial training in a delicatessen in Essen. Theo did an apprenticeship in his mother's grocery store. Both were called up for military service at the outbreak of the Second World War. Karl Albrecht suffered a wound on the Eastern Front. Theo Albrecht was deployed in Africa and finally in Italy, where he was taken prisoner by the Americans towards the end of the war. After returning home in 1946, the Albrecht brothers continued to run the grocery store in the Essen suburb, which they gradually expanded into a chain of stores. In 1948 they founded the company "Albrecht Discount", which later traded under the name "ALDI". In 1950, the Albrechts were already running 13 grocery stores, which gradually spread across the entire Ruhr area.
Their business idea was based on a uniform range of well-selling mass-produced items that could be offered at low prices with minimal personnel, advertising and decoration effort. In 1955 the company had 101 branches, the number of which rose to 170 by 1958 and even to 300 by 1960. In 1961, the brothers separated the company: Karl headed the store network south of the Ruhr, while Theo took over the stores in the north. Under the name "ALDI" ("ALbrecht-DIscount"), the simply designed food markets quickly spread throughout Germany in the 1960s. The first Aldi store with a new discount concept opened in 1962. By 1972, the brothers were already operating 600 branches in 300 cities. In 1971, Theo Albrecht was the victim of a kidnapping, from which he was only released after almost three weeks after paying 7 million DM. Despite the subsequent arrest of the perpetrators, part of the ransom money was never found.
In 1976, Karl Albrecht expanded overseas for the first time to take over the "Benner Tea of Iowa" chain of stores in the USA, which has since developed into a profitable business under the name "ALDI-Benner". In 1977 and 1978 the company was transformed into "ALDI Einkauf GmbH & Co. oHG". This was followed by further investments from 1980 onwards in the US supermarket chain "Albertson's", in the Austrian Hofer markets, the Belgian Lansa and the Dutch Combi chain. In 1988 the company expanded to France and in 1990 to Great Britain. Towards the end of the 1990s, "ALDI" had become one of the largest trading companies in Europe, operating 3,000 branches in the Federal Republic alone in 1997. An expanded range of goods, which has now also significantly improved in quality, has now transformed the ALDI stores from a supermarket for socially disadvantaged sections of the population into a recognized discounter that has found its largest clientele in the middle income brackets. Theo Albrecht was married to Cäcilia "Cilly" Albrecht. They had two children together.
At the end of 1993, Theo Albrecht transferred the management of ALDI-Nord to his sons Berthold and Theo junior. However, as chairman of the Theo Albrecht Foundation, Theo Albrecht continues to exert his influence on the company. After Karl Albrecht withdrew from the direct management of ALDI-Süd and his son Karl junior also left the board of directors there in 1994 for health reasons, the management position was taken over by Ulrich Wolters and Horst Steinfeld. With assets worth 14.6 and 12.6 billion euros respectively, Theo and Karl Albrecht were considered the richest Germans. In 2004, Karl Albrecht was considered the third richest person in the world with an estimated fortune of $23 billion. His brother Theo was ranked 14th with $18.1 billion. In March 2005, the Forbes Institute announced that Karl Albrecht was ranked 8th in the world as Germany's richest man, while his brother Theo was 20th . took place.
Theo Albrecht died on July 24, 2010 in Essen.
Their business idea was based on a uniform range of well-selling mass-produced items that could be offered at low prices with minimal personnel, advertising and decoration effort. In 1955 the company had 101 branches, the number of which rose to 170 by 1958 and even to 300 by 1960. In 1961, the brothers separated the company: Karl headed the store network south of the Ruhr, while Theo took over the stores in the north. Under the name "ALDI" ("ALbrecht-DIscount"), the simply designed food markets quickly spread throughout Germany in the 1960s. The first Aldi store with a new discount concept opened in 1962. By 1972, the brothers were already operating 600 branches in 300 cities. In 1971, Theo Albrecht was the victim of a kidnapping, from which he was only released after almost three weeks after paying 7 million DM. Despite the subsequent arrest of the perpetrators, part of the ransom money was never found.
In 1976, Karl Albrecht expanded overseas for the first time to take over the "Benner Tea of Iowa" chain of stores in the USA, which has since developed into a profitable business under the name "ALDI-Benner". In 1977 and 1978 the company was transformed into "ALDI Einkauf GmbH & Co. oHG". This was followed by further investments from 1980 onwards in the US supermarket chain "Albertson's", in the Austrian Hofer markets, the Belgian Lansa and the Dutch Combi chain. In 1988 the company expanded to France and in 1990 to Great Britain. Towards the end of the 1990s, "ALDI" had become one of the largest trading companies in Europe, operating 3,000 branches in the Federal Republic alone in 1997. An expanded range of goods, which has now also significantly improved in quality, has now transformed the ALDI stores from a supermarket for socially disadvantaged sections of the population into a recognized discounter that has found its largest clientele in the middle income brackets. Theo Albrecht was married to Cäcilia "Cilly" Albrecht. They had two children together.
At the end of 1993, Theo Albrecht transferred the management of ALDI-Nord to his sons Berthold and Theo junior. However, as chairman of the Theo Albrecht Foundation, Theo Albrecht continues to exert his influence on the company. After Karl Albrecht withdrew from the direct management of ALDI-Süd and his son Karl junior also left the board of directors there in 1994 for health reasons, the management position was taken over by Ulrich Wolters and Horst Steinfeld. With assets worth 14.6 and 12.6 billion euros respectively, Theo and Karl Albrecht were considered the richest Germans. In 2004, Karl Albrecht was considered the third richest person in the world with an estimated fortune of $23 billion. His brother Theo was ranked 14th with $18.1 billion. In March 2005, the Forbes Institute announced that Karl Albrecht was ranked 8th in the world as Germany's richest man, while his brother Theo was 20th . took place.
Theo Albrecht died on July 24, 2010 in Essen.