France's Casino Guichard-Perrachon SA (CO.FR) said Tuesday that it has signed an agreement with Ocado Group PLC (OCDO.LN) to develop the Ocado Smart Platform ecommerce grocery service in France.
Casino said that in consideration of the investments made by Ocado, it would pay the online grocery retailer certain upfront fees upon the signing of the agreement and during the development phase, as well as ongoing fees linked to its utilization of capacity within the newly planned customer fulfillment center and service criteria.
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The build and launch of the customer fulfillment center--to serve the Greater Paris area and the regions of Normandy and Hauts de France--is expected to take at least two years.
Casino and Ocado will consider the development of further customer fulfillment centers close to large urban areas.
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(END) Dow Jones Newswires
November 28, 2017 02:47 ET (07:47 GMT)