Ocado shares were down 4.6% to 763.8p after the group confirmed its extended partnership with French retailer Groupe Casino.
The extension is consistent with the terms of the Memorandum of Understanding announced by the firm on 17 February 2022.
Ocado highlighted the extension included the creation of a joint venture to provide logistics services to OSP-powered Customer Fulfilment Centres (CFCs) in France, which will be available to all grocery retailers.
The agreement also notes a partnership for the online retailer to integrate Octopia’s marketplace platform into the OSP (Ocado Smart Platform) and allow OSP partners across the world to launch their own marketplace offering.
The transaction further includes the deployment by Groupe Casino of the OSP In-Store Fulfilment solution by Ocado across its Monoprix stores.
“This is a great milestone for our relationship with Groupe Casino as we extend the partnership in a number of exciting directions,” said Ocado Solutions CEO Luke Jensen.
“Our partnership demonstrates what can be achieved when a major retailer introduces a world-class quality of service online, enabled by unique efficiencies, to French consumers.”
“I’m excited that Ocado Group’s cutting-edge technologies are now available to all grocery retailers in France, with the new joint venture leveraging our combined expertise to provide key logistics services for future CFCs.”
