Theo Albrecht and his brother Karl Albrecht built Aldi from a single family-owned grocery store in post-war Germany. Born in 1922, Theo grew up watching his parents run a small shop during hard times. After World War II devastated much of Germany, the brothers rebuilt what was left of the store. Their focus was simple: sell essential goods cheaply and efficiently.
This idea changed grocery shopping forever. Instead of trying to be fancy, Theo Albrecht and his brother created a system that focused on affordability and speed. The store grew quickly, and by the 1950s, the Albrecht Discount—later renamed Aldi—was expanding across Europe. By the 1970s, Aldi had become the largest grocery chain in Europe, and its value had reached billions. Theo Albrecht and Aldi became household names.
A Plan Gone Wrong: The Kidnapping of Theo Albrecht
In 1971, the unthinkable happened. Theo Albrecht was kidnapped outside his office in Germany. The crime was led by Heinz Joachim Ollenburg, a dishonest lawyer with a gambling problem, and an accomplice named Paul Kron, a former safe-cracker. Their motivation was simple: money. They knew Theo Albrecht and Aldi were worth billions and believed ransom would make them rich.
The plan, however, was a disaster. The kidnappers even called Theo’s wife the day before, warning her not to call the police because they planned to take him. Amazingly, she didn’t report it. The next day, they grabbed Theo Albrecht, stuffed him into his own car, and hid him inside a closet at Ollenburg’s law office.
Days turned into weeks. The kidnappers had no clear plan and didn’t even make ransom demands at first. Theo, ever the businessman, tried to negotiate his own release—offering 100,000 marks, then more. After more than two weeks, the kidnappers finally demanded seven million Deutschmarks (about $16 million today).
The Negotiation and Release
Police worked secretly with Theo’s wife to arrange the ransom drop. To confirm Theo’s identity, authorities brought his priest to the meeting and asked personal questions only Theo would know. Once verified, the exchange was made, and Theo Albrecht was freed.
The kidnappers fled, but both were later caught. Ollenburg fled to Mexico but was extradited back to Germany. Each served just eight years in prison. Only half the ransom was ever recovered—the rest remains missing to this day.
The Legacy of Theo Albrecht and Aldi
Theo Albrecht returned to work at Aldi almost immediately after his release. Under his leadership, Aldi continued to grow worldwide. In the same decade, the Albrecht family purchased Trader Joe’s, expanding their influence into the United States.
Today, Theo Albrecht and Aldi are remembered not only for creating one of the most successful discount grocery chains in the world but also for surviving one of the most bizarre crimes in modern business history. Despite a harrowing ordeal, Theo Albrecht remained committed to building a company defined by value and efficiency—a vision that still shapes Aldi stores around the globe.
Lessons From a Billionaire’s Ordeal
The story of Theo Albrecht and Aldi is a reminder that even immense success can come with unpredictable challenges. From rebuilding a small shop after war to surviving a kidnapping, Theo’s resilience helped shape a global grocery brand known for affordability, innovation, and simplicity.
Aldi’s continued success proves that strong values—and maybe a bit of German stubbornness—can turn even the darkest moments into lasting legacies.
Things I Learned Last Night is an educational comedy podcast where best friends Jaron Myers and Tim Stone talk about random topics and have fun all along the way. If you like learning and laughing a lot while you do, you’ll love TILLN. Watch or listen to this episode right now!
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