Ocado has signed an agreement with Coles, reports Reuters. The partnership will use Ocado's technology and software to develop Coles' online grocery business in Australia and includes robotic distribution centers in Sydney and Melbourne to be built within four years.
The deal is Ocado's first since a fire destroyed its flagship warehouse in Andover, England, in February. CFO Duncan Tatton-Brown notes, "It's not unhelpful to announce a deal after that fire because it gives you evidence of what we always knew that there was no consequences of the Andover fire."
Coles is one of Australia's largest retailers, with 818 supermarkets, 911 liquor stores, and 712 Coles Express petrol stations across the country, generating sales in 2018 of $21.8 billion. Full Story
Related: Kroger, Ocado Name Site of Second Fulfillment Center; Ocado to Help Sobeys Grow Online Business.
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