M&S and Ocado form JV for home grocery deliveries, but Waitrose will compete

Tim Steiner (left) and Steve Rowe (right)

UK e-commerce logistics provider Ocado and supermarket Marks & Spencer have announced a joint-venture operation which, they said, would “transform online grocery shopping for UK consumers”.

M&S will buy a 50% stake in Ocado’s UK retail business for £750m, and the JV is expected to launch in September 2020, “following the termination of [Ocado’s] current Waitrose sourcing agreement”.

M&S chief executive Steve Rowe said: “I have always believed that M&S Food could, and should, be online.  Combining the strength of our food ...