Casino Group: signing of an MOU with Ocado
Paris, 17th February 2022,
Ocado Group and Groupe Casino announce the
signing of an MOU to extend their unique partnership in
France
Ocado Group and Groupe Casino announce the
signing of an MOU to extend their unique partnership in France.
This extension includes:
● The creation of a JV to provide
logistics services to OSP-powered CFCs in France, which will be
available to all grocery retailers;
● A partnership for Ocado to integrate
Octopia’s marketplace platform into OSP and allow OSP partners
around the world to launch their own marketplace offering (Octopia
is a subsidiary of Cdiscount);
● Groupe Casino to deploy Ocado’s In-Store
Fulfilment solution across its Monoprix store estate
Ocado Group (“Ocado”) and Groupe Casino today
announce the signing of a Memorandum of Understanding (“MOU”) to
extend their partnership. This extension will see the creation of a
new exclusive Joint Venture (“JV”) to support the development and
management of single or multi-tenanted CFCs in France.
Underpinned by the success of their partnership
and expanding operations in Ile-de-France, Ocado and Groupe Casino
believe there is significant and growing demand for online grocery
services across the French market, creating a huge opportunity to
leverage their combined expertise, including Ocado’s UK experience
providing multi-retailer CFCs.
The Joint Venture will draw on the combined
strengths of Ocado and Groupe Casino to provide logistics services
for future CFCs. These services include project management for CFC
construction and set-up, as well as the recruitment and operations
management of personnel.
Alongside the JV, Ocado Solutions will offer its
world-leading automated fulfilment and software solutions to all
grocery retailers in the French market, with OSP capacity in the
future CFCs available to multiple grocery retailers, including
Groupe Casino itself. Future CFCs will also benefit from the latest
range of innovations announced by Ocado.
Once finalised, the JV is not expected to impact
the current live operations of the partnership between Ocado and
Groupe Casino.
Alongside the creation of the new JV, Groupe
Casino will shortly expand its deployment of Ocado’s solutions to
include the use of Ocado’s In-Store Fulfilment software across the
Monoprix store estate.
Additionally, Ocado will integrate Octopia, the
world-class marketplace platform launched by Cdiscount into the
Ocado Smart Platform, bringing new flexibility and functionality to
its global partners. The agreement between Ocado and Cdiscount also
provides a preferential option for Ocado to buy Octopia shares in
the event of future fundraising. This commercial partnership will
support the development of Octopia and Cdiscount’s strategy of
expanding its B2B businesses.
Expected financial Impact
There is not expected to be any initial capital
cost associated with the JV to either Ocado Group or Groupe Casino.
CFC-related capital costs typically associated with OSP partners
will be funded in future CFCs by tenant grocery retailers in line
with their capacity commitments.
Tim STEINER, CEO of Ocado Group,
said:
“The online grocery channel in France has
reached an inflection point, with a huge rise in demand for
compelling, affordable and efficient grocery ecommerce
propositions. Our growing partnership and live operations in
Ile-de-France have set the highest bar for the experience French
consumers can expect in online grocery.”
“This announcement marks a deepening of the
relationship between Groupe Casino and Ocado Group, and it will
further support the capital light expansion of our partnership into
other French regions. For the first time, it will also open up the
whole of the French grocery market to Ocado’s solutions.”
“Additionally, by integrating the Octopia
marketplace into our end-to-end smart platform, we are bringing
more proven, market-leading flexibility to our partners' online
ecosystems.”
Jean-Charles NAOURI, CEO of Groupe
Casino, said:
"Casino Group is pleased to announce this new
agreement with Ocado Group. This partnership illustrates our
ability to once again revolutionize the way of disrupting the
online grocery market.
After having experienced the success of the
Ocado solution with Monoprix Plus, Casino Plus and Naturalia Marché
Bio, the French consumers will be able to benefit from new, even
more efficient e-commerce services, making their daily needs even
easier.
Casino Group is very proud that Ocado chooses
Octopia for its marketplace solution recognizing its word-class
functionality."
ANALYST AND INVESTOR CONTACTS CASINO
GROUPLionel BENCHIMOL – +33 (0)1 53 65 64 17
lbenchimol@groupe-casino.fror+33 (0)1 53 65 24 17
IR_Casino@groupe-casino.fr
PRESS CONTACTSCasino
Group – Direction of CommunicationStéphanie Abadie
- sabadie@groupe-casino.fr - +33 (0)6 26 27 37
05or+33(0)1 53 65 24 78 -
directiondelacommunication@groupe-casino.frAgence IMAGE
7Karine Allouis - +33(0)1 53 70 74 84 -
kallouis@image7.frFranck Pasquier - +33(0)6 73 62 57 99
- fpasquier@image7.fr
OCADO CONTACTSDavid Shriver, Director of
Communications – +44(0)20 7353 4200 Martin Robinson at
Tulchan Communications – +44(0)20 7353 4200
Important Information
This press release and the information contained
herein does not constitute an offer to repurchase the bonds or an
invitation to sell the bonds or an invitation to participate in
such an offer to repurchase in, or from, any country in or from
which, or from or to any person to whom, such invitation is
prohibited by applicable laws and regulations. The distribution of
this press release in certain countries may be restricted by law
and/or be subject to specific regulations. Persons in possession of
this document are required to inform themselves and to comply with
all applicable legal and regulatory restrictions.
- 2022.02.17 - PR - Signing of an MOU with Ocado
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