George Osborne-Chaired Agnelli Fund Builds 5% Stake in Ocado (1)

An investment firm backed by the Agnelli family of Italy and chaired by former UK Chancellor of the Exchequer George Osborne has built a 5% stake in the online grocer Ocado Group Plc.

Lingotto Investment Management LLP disclosed the position in regulatory filings on Monday. It comes just days after Ocado’s shares surged following speculation of bid interest from technology companies such as Amazon.com Inc.

George Osborne

Photographer: Dan Kitwood/Getty Images

Ocado is best known for an online grocery joint venture with Marks & Spencer Group Plc but its main focus is on licensing its robotic warehouse technology worldwide. It has partnerships with ...