Blog: Dean BestOcado float admission raises eyebrows

Dean Best | 17 June 2009

Today's (17 June) admission from Ocado, the UK online food retailer, that is aiming to float on the stock exchange next year came as a surprise.

Ocado has already proved an attractive investment for at least industry player, Procter & Gamble, which bought a stake in the business last year.

However, Ocado operates in a buoyant channel but it is facing fierce competition from the likes of Tesco and Sainsbury's and is yet to turn a profit.

What's more, one of the company's founders, Jason Gissing, is reported, in the not-too-distant past, to have been opposed to a possible float.

According to The Times, Gissing said last year: "I would rather shoot myself than be FD of a listed company. I didn’t start Ocado to sit in a room full of suits and have them abuse me about quarterly earnings.”


BLOG

Upfield Foods, home to ex-Unilever spreads assets, makes notable appointment

UK food-industry veteran David Salkeld is to take a senior position at Upfield Foods, the newly-instituted business that is home to Unilever's former spreads assets....

BLOG

Nature's Path quits US organic trade body in "protest"

The Organic Trade Association, which represents the organic industry in the US, has seen a high-profile member quit the organisation, taking a swipe at the body's stance on policy issues....

BLOG

Early skirmishes in the Ketchup War

In the 1970s a squabble between the UK and Iceland over fishing rights in the North Atlantic earned the somewhat hyperbolic name of the Cod War....

BLOG

Brexit could be worse for dairy than Russia ban, EU and UK producers warn

Russia's embargo on a swathe of foodstuffs from the EU in 2014 - a ban that lasts to this day - hammered the bloc's dairy industry. But producers on both sides of the English Channel have warned the i...



Forgot your password?