Holland & Hart LLP represented Las Vegas-based Haddington Dynamics, Inc., an advanced research and development company specializing in the design and manufacturing of highly dexterous, lightweight, low-cost robotic arms, in an agreement to be acquired by Ocado Group plc, a UK-based technology company that provides end-to-end online grocery fulfilment solutions to some of the world’s largest grocery retailers. This transaction is part of a joint acquisition by Ocado Group of two robotics companies, Kindred Systems and Haddington Dynamics. The Haddington Dynamics acquisition is valued at $25 million in cash and shares, subject to closing conditions with an expected completion date in 2020.
The unique combination of Haddington Dynamics’ lightweight, dexterous robotic arm design and novel capabilities that are well-suited for grocery use-cases, along with Kindred’s advanced technology in machine learning and motion control, is expected to provide Ocado Group an intelligent approach and enhanced scale to help solve the distinct challenges of grocery fulfillment logistics at a faster rate.
Holland & Hart’s multi-state deal team was led by Mergers & Acquisitions partner Gian Brown and associates Dmetri Culkar and JP Tarbutton. The team also included subject matter expertise and support from Scott Baird, Catherine Crane, Rossetti Farrell, Dave Glynn, Tyson Horrocks, Arthur Hundhausen, John Ludlum, Chris Myers, Ryan Nichols, Perter Perla, Sara Shelly, Lindsay Silber, Trent Timmons, and Hao Wang.
For more information, please see Ocado Group’s investors update and presentation: Ocado acquires Kindred and Haddington.