British supermarket chain Morrisons is said to be close to finalising a distribution agreement with online retailer Ocado on a combined e-tailing venture, according to reports in The Financial Times.
Despite rumours of Morrisons acquiring Ocado or taking a stake in the company, it is thought that the agreement would be a joint venture.
The deal would see Ocado provide fulfilment for Morrisons’ as-yet unlaunched online grocery business through its recently-opened facility in Warwickshire. The delivery service will be branded Morrisons with back-end support from Ocado.
The online retailer posted sales growth of 13.9 per cent to £731.9 million for 2012 and opened the second fulfilment centre to "substantially increase our capacity".
ADVERTISEMENT
