Ocado's shares rose 50% to a record in London trading, as investors cheered the overseas deal, its fourth this year. Kroger shares, down 6% this year, rose more than 3% Thursday. Amazon's push into the grocery business, and weak inflation in food for ...and more »
Kroger Co. has struck a deal with a British grocer known for its use of robots to supercharge its online delivery business as the biggest U.S. grocery chain works to fend off Amazon.com Inc. and Walmart Inc.
Kroger has agreed to raise its stake in Ocado Group PLC to more than 6%, and to license technology from the British company to run automated warehouses and process online orders. The companies said they will identify locations for three new warehouses this year and a total of 20 warehouses in three years.
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