January 22, 2018 / 8:53 AM / a year ago

BUZZ-Ocado Group: Shares jump on Sobeys tie-up

** British online grocer Ocado’s shares up 12.2 pct, touching a 2.5 yr high and top gainer on the FTSE Midcap Index

** Signs agreement with Sobeys to develop the online grocery business at Canada’s second largest food retailer

** “Ocado is the only global provider of an end-to-end platform solution for online grocery retailing... We believe this will become increasingly recognised by retailers globally, leading to a number of deals being signed with Ocado over time” - RBC Capital Markets

** Under the deal, the two companies will develop a customer fulfillment centre (CFC) in Toronto. The deal leaves the potential to develop future CFCs in other cities in future.

** Shares of Ocado have risen 76 pct in the past 12 months

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