The delivery outfit’s takeover of US firm Kindred Systems also gives it a toehold in non-grocery world
Ocado’s value improved by £1.3bn, or 8%, on Monday, an impressive gain. But one can safely say the jump wasn’t driven by the unremarkable news that the sheds and vans are still running at full capacity. The extra activity will produce £20m more profit for Ocado this year than expected in September – useful but not gamechanging.
Rather, the fizz related to the company’s other news – two acquisitions to boost “robotic manipulation capabilities”. Ocado is buying San Francisco-based Kindred Systems for $262m (£201m) and Las Vegas-based robotic arm designer Haddington Dynamics for $25m.
