May 2, 2018 / 6:20 AM / 5 months ago

Britain's Ocado signs partnership deal with Swedish grocer ICA

LONDON, May 2 (Reuters) - Ocado, the British online grocer and technology company, has signed a partnership deal with Sweden’s ICA Group to develop its online grocery business, it said on Wednesday.

ICA is Sweden’s market leader with around 1,300 stores and a share of around 36 percent.

Ocado said it expected the deal to create significant long term value to its business and said the impact of the transaction should be earnings neutral in the current financial year.

Reporting by James Davey; editing by Kate Holton

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