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BCLP advises Ocado Group on its proposed acquisition of Myrmex Inc.
May 25, 2022Summary
International law firm BCLP is advising UK listed Ocado Group (Ocado), the UK-based technology company providing end-to-end online grocery fulfilment solutions to some of the world’s largest grocery retailers, on its proposed acquisition of materials handling robotics start-up Myrmex Inc. (Myrmex) for approximately €10.2 million. This follows Ocado’s previous acquisition of a minority stake in Myrmex in October 2020.
Myrmex, established in the USA in 2015 with its R&D operations based in Greece, develops state-of-the-art hardware and software solutions for retailers, such as automating the loading of totes containing customer orders onto frames ready for dispatch, which it previously developed for Ocado.
The acquisition, expected to complete on or around 6 June 2022, will accelerate the development of intelligent asset handling systems for the Ocado Smart Platform.
The core BCLP team composed Corporate M&A Partners Jinal Shah and Rob Lystad along with Associate Griffin Davis, who were supported by a large, cross-border multidisciplinary team.
Greek law firm KGLaw was co-counsel to Ocado.
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