Feb 26, 2019

M&S and Ocado in talks about joint venture

Marks and Spencer and Ocado have confirmed they are "In discussions" about a £1.8bn joint venture. The London Evening Standard said any deal would see M&S pay Ocado between £800-900m for a 50% stake. Shares in M&S were up 3% on the news while Ocado was up 10%. Currently Ocado has delivery deals with both Waitrose and Morrisons, as well as delivering its own branded goods. Ocado's deal with southern England-focused Waitrose is due to come to an end in September 2020. The current agreement also gives Ocado the right to use the Waitrose brands on its website and on its fleet of more than 700 vans.

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