Kroger signed a ‘transformational’ deal with UK online grocer Ocado — and Ocado’s shares are sky rocketing
|05/17/2018||Posted by BusinessMediaguide.Com under General World News||
- 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.