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Ocado Confirms Joint Venture With Marks & Spencer: What The Analysts Said

Published on Feb 27 2019 10:00 AM in Retail tagged: Featured Post / Ocado / Shore Capital / Marks & Spencer / Bernstein Research / Savvy / Barclays European Food Retail Equity Research / Paywall /

Ocado Confirms Joint Venture With Marks & Spencer: What The Analysts Said

Ocado has confirmed plans to create a 50/50 joint venture with Marks & Spencer, in a move that one analyst has described as "materially better than we thought yesterday".

Under the terms of the agreement, Marks & Spencer will pay Ocado £750 million (€877 million), including deferred consideration, for a 50% share in a new joint venture being established by the online retailer.

The joint venture combines Ocado's retail business, a new partnership for solutions services underlined by Ocado's Smart Platform, and the provision of branding and sourcing from M&S.

The joint venture will see M&S's food and beverage range combined with that of Ocado's on the online platform, for a total of 50,000 SKUs, with M&S products available from September 2020, upon the conclusion of the online retailer's current sourcing agreement with Waitrose.

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