Online supermarket specialists Ocado is holding secret talks with Marks & Spencer to deliver its food & drink, according to reports.
According to the Daily Mail on Sunday, a tie-up between the two food retail giants could mean that M&S may buy key distribution centres, delivery vans and lorries from the online food retailer.
A City source told the newspaper that M&S chairman Archie Norman is under pressure to overturn a performance of poor sales, which has led to ongoing cuts and plans to close 100 stores by 2022. The unnamed source said: “The deal on the table is effectively buying the Waitrose part of the Ocado business and replacing it with M&S products.”
Ocado currently has a contract with Waitrose until September 2020. A deal with M&S would potentially end Ocado’s tie-up with the John Lewis Partnership brand.