Upmarket UK retailer Waitrose has signed a ten-year supply and branding deal with online grocer Ocado.
The agreement, which will run until September 2020, extends the existing supply relationship between the two firms.
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Under the deal, Ocado will have the right to sell Waitrose products – as it has since 2002 – and can continue to use the Waitrose logo on its website and fleet of delivery vans.
“This new agreement enables both sides to continue to grow and benefit from the relationship. In areas where Waitrose and Ocado trade together, we have both grown significantly ahead of our competition,” Ocado CEO Tim Steiner said.
Waitrose’s parent company, the John Lewis Partnership, through its pension fund, owns 28.5% of Ocado.
Waitrose MD Mark Price said: “Waitrose and Ocado have worked well together for many years and are complementary businesses with a shared passion for high quality food, outstanding customer service and great value. This new agreement paves the way for another long period of growth together.”
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