Home » General World News » Kroger signed a ‘transformational’ deal with UK online grocer Ocado — and Ocado’s shares are sky rocketing

Kroger signed a ‘transformational’ deal with UK online grocer Ocado — and Ocado’s shares are sky rocketing





Delivery vans are lined up prior to dispatch at the Ocado CFC (Customer Fulfilment Centre) in Andover, Britain May 1, 2018. Picture taken May 1, 2018.

  • Kroger signs exclusive US deal with warehouse technology company Ocado.
  • Kroger is also buying a 5% stake in Ocado for £183 million.
  • Kroger is hoping to build three next-generation warehouses with Ocado this year and aiming for 20 new warehouses over the next three years.
  • Ocado CEO calls the partnership “transformational,” although the exact financial impact isn’t clear.
  • Ocado shares jumped nearly 50% on the deal.

LONDON — US grocery giant Kroger has signed an exclusive deal with Ocado, the British online grocer that makes tech savvy supply chain and fulfilment technology.

Ocado said in a statement on Thursday that it has signed a read more >>>

Source:: BusinessInsider.Com

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