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.
If you are considering a company merger, acquisition, takeover or joint venture or are in the midst of a shareholder dispute or share capital transaction or need business advice please contact us. Call 0161 624 6811 (Option 4) to speak to John Porter and Soibi Iketubosin in our Company/Commercial Department or email jap@wrigleyclaydon.com or si@wrigleyclaydon.com
Latest posts by Shalish Mehta (see all)
- Former Premier League player, Sylvan Ebanks-Blake, sues surgeon for ‘millions’ over ending his career - 20th March 2023
- Daughter tries to evict mother, 82, from £800k home for ‘shouting’ at her young daughter - 20th March 2023
- Paralysed rugby player who sued opponent for £10,000,000 over tackle wins compensation - 6th March 2023
- US Rapper Flo Rida wins $82.6 million in compensation after suing Celsius energy drinks company - 27th February 2023
- Lidl and Tesco in copyright dispute over logo - 13th February 2023