M&S agrees £750m food delivery deal with Ocado

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Marks & Spencer will buy 50% stake and take its food offerings online for first time

Marks & Spencer has formed a £1.5bn online delivery joint venture with Ocado to bring M&S’s ready meals, food hall favourites and Percy Pig sweets to internet shoppers for the first time.

M&S will pay £750m for a 50% share of Ocado’s UK retail business to form the new business, which will trade as Ocado.com. The venture will not start trading until September 2020 at the latest, when Ocado’s present deal to deliver Waitrose products expires. Only 10% of the products on sale at Ocado.com will be M&S-branded goods.

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from The Guardian https://ift.tt/2EzjTJW

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