The new grocery stores will bring the retailer’s total U.S. locations to 2,500 by the end of 2022.

Grocery retailer Aldi has revealed a $3.4 billion capital investment to further develop its U.S. presence by opening 1,200 stores by the end of 2022.

The new stores will bring Aldi’s total U.S. locations to 2,500–making it the third largest grocery store by count in the U.S., according to the company.

Aldi has also unveiled a $1.6 billion program to remodel 1,300 stores by 2020.

“We pioneered a grocery model built around value, convenience, quality and selection and now Aldi is one of America’s favorite and fastest growing retailers,” says Jason Hart, chief executive officer, Aldi. “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.