M&S Food gears up for 2020 online launch

Marks and Spencer has completed its acquisition of half of Ocado Retail, giving it a food delivery service for the first time. Further info on the deal can be found here and here.

“I have always believed that M&S Food could and should be online. The addition of Ocado to our family of businesses marks our first truly transformational step in shaping our future as a digital first retailer,” says Steve Rowe, CEO, M&S.

“Through its unique technology, Ocado has developed the most cost advantaged model in online grocery retail and our new partnership unlocks growth for M&S Food through an immediately profitable, scalable presence in the UK’s fastest growing grocery sales channel.”

Tim Steiner, CEO at Ocado, comments: “Ocado Retail’s future, as part of a joint venture with M&S, is full of opportunity. The new company will be able to offer customers even greater range, service, quality and value. Our collaboration will also allow us to grow the business faster, add more jobs, and create more value for all our stakeholders. We are very excited to be working together.”

M&S says that its products will be available on the Ocado platform “from September 2020 at the latest”.