BrandRepublic: P&G pays £5m for slice of Ocado

27 November 2008

LONDON - Procter & Gamble has paid £5m for a 1% stake in online home-shopping firm Ocado, according to a Companies House filing.

The investment gives another indication of P&G's ambitions to develop its online retail strategy and follows last month's news that is was supporting the launch of theEssentials.com, a website that sells its brands directly to consumers.

Ocado, which is best known for selling Waitrose products online, has also raised a further £13m via a cash injection from Apple Trust - an investment vehicle in which TetraPak billionaire Jon Rausing is the main investor.

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