LONDON (Alliance News) - Marks & Spencer Group PLC is in "secret" discussions to acquire Ocado Group PLC's distribution centres, delivery vans and lorries, the Daily Mail reported on Sunday.
The newspaper said M&S is planning to launch its own GBP1 billion food delivery service, as part of the latest twist in M&S Chair Archie Norman's strategy to restructure the company.
Daily Mail noted that for the past 20 years, Ocado vans have been delivering Waitrose groceries under a contract which is due to expire in September 2020. However, Waitrose now has its own separate delivery operation run directly from its own stores and warehouses.
Therefore, the newspaper said, M&S is considering buying the Waitrose part of the Ocado business and replacing it with its own products.
https://www.dailymail.co.uk/news/article-6636341/Marks-Spencer-secret-talks-gobble-Ocado.html
Ocado (OCDO)
Marks & Spencer (MKS)