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  3. Ocado Share Price
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  5. PRESS: M&S, Ocado In Talks To Roll Out GBP1 Billion Delivery Service

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London Stock Exchange
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Share Price: 281.00
Bid: 282.00
Ask: 282.50
Change: -9.40 (-3.24%)
Spread: 0.50 (0.177%)
Open: 291.00
High: 297.90
Low: 281.00
Prev. Close: 290.40
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PRESS: M&S, Ocado In Talks To Roll Out GBP1 Billion Delivery Service

Mon, 28th Jan 2019 06:45

LONDON (Alliance News) - Marks & Spencer Group PLC is in "secret" discussions to acquire Ocado Group PLC's distribution centres, delivery vans and lorries, the Daily Mail reported on Sunday.

The newspaper said M&S is planning to launch its own GBP1 billion food delivery service, as part of the latest twist in M&S Chair Archie Norman's strategy to restructure the company.

Daily Mail noted that for the past 20 years, Ocado vans have been delivering Waitrose groceries under a contract which is due to expire in September 2020. However, Waitrose now has its own separate delivery operation run directly from its own stores and warehouses.

Therefore, the newspaper said, M&S is considering buying the Waitrose part of the Ocado business and replacing it with its own products.

https://www.dailymail.co.uk/news/article-6636341/Marks-Spencer-secret-talks-gobble-Ocado.html

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