US deal boosts Ocado's stock market value to £6bn

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Online supermarket brings logistics and tech to deal with US grocery giant Kroger

Ocado shares have soared 75% – adding nearly £3bn to the value of the company – after the online grocer unveiled a major push into the US market with a deal to provide its technology to American grocery giant Kroger, the world’s third largest retailer.

Tim Steiner, a founder and chief executive of the online grocer, said it was a “transformative” deal that would see the two firms build 20 automated warehouses across the US over the next three years.

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