Ocado Shares Soar On Major Deal With Kroger To Enter The Us


LONDON – Britain’s online supermarket Ocado (OCDO.L) clinched a game-changing deal with Kroger (KR.N) as its exclusive partner in the U.S., securing its entry into the world’s biggest market and sending its shares soaring more than 50 percent on Thursday.

The agreement, Kroger’s response to the competitive threat posed by Amazon’s (AMZN.O) purchase of Whole Foods, takes Ocado’s home-delivery technology into the U.S. for the first time and marks the fourth major deal it has signed with supermarkets around the world in six months.

Ocado’s Chief Financial Officer Duncan Tatton-Brown said the new partnership with the world’s third largest retailer was “transformational”.

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