FoodClips
Source: Reuters
July 7 2010 - U.S. online retailer Amazon has launched a grocery website in Britain, adding to uncertainty over how to value UK online grocery specialist Ocado as it gears up for an initial public offering.
Amazon said on Wednesday it would sell over 22,000 products from household brands such as Kraft, Pepsi and Procter & Gamble to niche products like ethnic and international foods.
Read more [http://in.reuters.com/article/idINIndia-49943720100707]
FoodBizIntel®
Ocado Limited
Address: Titan Ct., 3 Bishop Sq., Hatfield Business Park Hatfield, AL10 9NE GBR
Telephone: +44-1707 227800
Fax: +44-1707 227999
About Ocado Limited
Upscale Internet grocer Ocado serves more than 13.5 million tech-savvy, time-pressed households in Greater London, Hertfordshire, Kent, the Midlands, Surrey, North West, and now the South Coast. Launched by three former Goldman Sachs bankers in 2002, Ocado delivers groceries in Mercedes vans from its supermarket partner John Lewis Partnership-owned Waitrose Limited, which owns about 30% of the company, to the customer's doorstep. Other Ocado investors include the company's directors, who control 25% of the company. The average Ocado order tops about £100, a relatively high price, but the company's ability to turn a profit is still erratic. The Internet grocer has postponed delivery of a planned IPO.