Marks & Spencer and Ocado have confirmed a deal giving the High Street retailer its first ever home delivery service. As reported on the BBC, under the agreement M&S will buy a 50% share of Ocado’s retail business for £750m. The joint venture will be called Ocado and will deliver M&S grocery products from September 2020 at the latest, when Ocado’s deal with Waitrose expires.
Waitrose & Partners has confirmed that its commercial arrangement with Ocado will end in September 2020, in line with contractual terms. On the Waitrose website MD of Waitrose & Partners Rob Collins said:
“We have strengthened our own online business significantly and said last summer that we will double Waitrose.com’s turnover within five years. This announcement is a major part of achieving this and in future Waitrose.com and our shops will become the exclusive places in the UK to buy Waitrose & Partners products.”