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Home Industry News Procter and Gamble purchases stake

Procter and Gamble purchases stake

27th November 2008

Procter and Gamble (P&G) has purchased a stake in an online grocery home-delivery company.

The buying of one per cent of Ocado – amounting to five million pounds – is part of wider fundraising of 18 million pounds, a Companies House filing report has said.

It is the first time P&G – whose brands include Oil of Olay and Fairy Liquid – has invested in a retail business.

The remaining 13 million pounds has been invested by the Apple Trust, which means it now owns approximately 12.5 per cent of Ocado.

P&G said: “We think Ocado is a huge research opportunity. They have a unique business and we can learn from it.”

“It will give us a better understanding of how people use the internet.”

In other news, the company has announced its final proration factor of 7.89144 per cent for shares tended, relating to an exchange offer in connection with the separation of the company’s Folgers coffee subsidiary.

Last week, P&G also announced a new managing director for its Thailand and Vietnam operations.

Raul Falcon will replace Parinda Hasdarngkul, who is moving to the role of Thai marketing director for the Association of Southeast Asian Nations.

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