Ocado (OCDO) has announced a new partnership. Some of the details don’t match the original whispers: analysts suspected the chain was in talks with Swedish chain ICA at the end of last year, but this deal is with Canada’s second-largest food retailer, Sobey.
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Ocado will help Sobey develop an online grocery business, complemented by a Toronto-based fulfillment centre which will take two years to build. The group says initial fees will be offset by the infrastructure costs, which will add £15m to the capex bill.
