UK: Ocado silent on "threat" to IPO
By: Michelle Russell | 15 February 2010
 |
Ocado "close" to appoint advisers |
UK online grocer Ocado has remained silent over reports that its plans to float on the London Stock Exchange are under threat.
The blow comes as reports today (15 February) suggested Waitrose plans to launch its own competing home-delivery service within two years.
Ocado, which is 30% owned by Waitrose parent the John Lewis Partnership, currently delivers Waitrose products.
Ocado first announced it was targeting a float on the stock exchange in June last year. It is understood the firm is now close to appointing advisers and is hoping to raise an initial GBP160m (US$251m) from the flotation.
The firm is currently on a five-year supply agreement with Waitrose, which will be due for renewal in 2014.
A spokesperson for Waitrose told just-food: “We are very supportive of any Ocado IPO, they are terrific partners.”
In the past five days, planned floats by Travelport, Merlin and New Look have all collapsed. The combined value was pitched at around GBP4bn.
Sectors: Retail
View next/previous articles
15 Feb 2010 -
15 Feb 2010 -
Currently reading -
UK: Ocado silent on "threat" to IPO
15 Feb 2010 -
15 Feb 2010 -
Related research
Ocado and the UK Online Food & Grocery Market: Insight 2010
Verdict had the opportunity to visit Ocado's headquarters in Hatfield, Hertfordshire, and to sit down with the grocer's management team. We reveal some of our findings and analyse the long term prospects for the UK pureplay and the UK online food & g...
UK Consumer Insight 2010: Waitrose Food
Introduction Verdict Research UK Consumer Insights 2010 are based around individual retailers and provide a highly detailed, data-rich overview of a retailer's customers, drawing on a nationwide survey of 6,000 shoppers each year. Reasons to Purch...
Global market review of online grocery retailing – forecasts to 2014
Online and internet shopping represents one of the fast growing sectors within the global food and grocery market at present, especially across the more developed parts of the world. With household internet access continuing to increase, the customer...
Related articles
UK: Sainsbury's rolls out milk bags
UK grocery retailer Sainsbury's plans to roll out "eco-friendly" milk bags and jugs across its range to help reduce its carbon footprint.
Editor's choice: the highlights on just-food this week
It was no surprise that Russia's decision to temporarily ban wheat exports grabbed your attention this week. Wheat prices have soared in recent days and food makers will be facing rising commodity costs at the same time as facing still-weak consumer confidence. Two other stories out of Russia, Mars Inc's latest chocolate investment and a shareholder spat at food retailer Lenta, were highlights - as was our August just-food interview with the boss of Kellogg UK, Greg Peterson.
UK: Sales rise for Waitrose in H1
Upmarket UK grocer Waitrose has booked an increase in sales for the first-half of the year.
There are currently no comments on this article
Be the first to comment on this article