Steiner: Ocado acquisitions could pave way for move into new sectors

Tim Steiner

Ocado chief executive Tim Steiner says the group’s acquisition of two robotics firms could pave the way for the grocery pureplay to move into the general merchandise and fashion sectors in future.

Steiner said Kindred Systems, the US-based robotics solutions company it acquired today for $262m (£203.7m), already works with fashion and general merchandise clients such as Gap and American Eagle.

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