Shares in online grocer Ocado have increased by 47% to 814p after it struck a deal with US retailer Kroger. Ocado’s technology will be used in the US exclusively by Kroger, which is one of the world’s biggest grocery chains with annual sales of $122bn (£90bn).
Under the terms of the deal, Kroger will also take a 5% stake in Ocado.
The agreement is the latest in a series of deals that Ocado has struck with retailers to share its technology that automates online grocery orders.
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