Ocado seals US deal

Kroger is the world’s third largest retailer with around 2800 shops across 35 US states and annual sales of $122bn in 2017. As part of the deal, which has seen Ocado shares soar by nearly 45%, it will take a 5% stake in Ocado.

Commenting, chief executive of Ocado and an original founder, Tim Steiner, said: “Ocado’s unique, proprietary and industry-leading technology is set to transform the shopping experience of consumers around the world.

“As we work through the terms of the services agreement with Kroger in the coming months, we will be preparing the business for a transformative relationship which will reshape the food retailing industry in the US in the years to come.”

Ocado has also recently struck deals to share its technology with France's Casino supermarket chain and Swedish grocer ICA, and operates the online business of the UK's fourth largest supermarket, Morrisons.