The Danish discounter, which already has stores in Flint and Holyhead, said South Wales was a key element in its expansion plans for the UK.
UK MD Claus Wædeled said: “Our experience in Flint and Holyhead has convinced us that there is ample room for further expansion of Netto in the principality.
“Like the Danes, the Welsh understand the benefits of value retailing and that is reflected in the sales we enjoy in our existing stores.We are actively looking at a wide range of sites in South Wales and expect to invest more than £200m there.”
The new stores will be predominantly located between the M4 corridor through to Haverfordwest and the A645.
Wædeled added: “Our new store opening programme will be a mix of new-build and acquisitions and during the past 12 months we have established an excellent process for identifying sites in good locations.”