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Home Business News Ocado shares rise 6 per cent over possible M&S deal

Ocado shares rise 6 per cent over possible M&S deal

by Sarah Dunsby
28th Jan 19 10:45 am

Monday morning trading saw Ocado share rise 6.7%, after weekend report by the Mail on Sunday revealed, M&S is in talks with Ocado in a possible partnership for food delivery.

According to the newspaper, M&S could be interested in buying distribution centres, delivery vans and lorries from Ocado. This will enable M&S chairman Archie Norman to turn the troubled retail giant around.

M&S online grocery market was worth £11.4bn in 2018 and is to grow by 52% and expected to grow to £17.3bn by 2023, according to analysis by the food and grocery research organisation IGD.

John Lewis Partnership (JLP) sold their holding in Ocado for £150m in 2011, over the last 10-years JLP has been heavily investing in Waitrose.com as there has been a stormy relationship between the two companies.

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