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Ocado invests £17m to 'become a leader' in vertical farming
Ocado has today announced twin investments which it said will enable it to “become a leader in the newly emerging vertical farming industry”.
The grocery etailer has signed a memorandum of understanding with 80 Acres Farms and Priva Holding to form a joint venture called Infinite Acres designing “turnkey solutions” to vertical farming clients.
It has also completed the 58% acquisition of Jones Food Company, which operates Europe’s largest operating vertical farm in Scunthorpe.
The two deals represent a £17m investment by Ocado in the vertical farming space.
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