New: Mariner Organic Little Dippers® Club House & Thin Wheat. Made Simple. Made Right.
Frico Cheeses
Learn about our White Pizza Sauces and More!
Publix and Ocado Partnership Speculation Raises Shares

Publix and Ocado Partnership Speculation Raises Shares


LONDON, ENGLAND
Monday, April 4th, 2016

If you've been tracking the stock market, you may have noticed a British online grocer showing off a big boost this week. Speculation that Ocado may be joining forces with Publix for online grocery sales in the U.S. sent Ocado’s stock up nearly 30 points over the weekend, topping out at 326.70 on London’s stock exchange as of 4:55 PM GMT+1. 

Credited to Google Finance.

According to British paper the Telegraph, Ocado has been struggling to maintain investor support following the online retailer’s failure to live up to its promise of sealing a deal with an international retailer by the end of 2015. The company has now reportedly hired international consultancy agency Mace to advise it on its American debut, garnering investor’s trust that a deal will be penned soon. 

Publix

So who will likely be Ocado's partner in a U.S. deal? Analysts have put Publix at the top of thier lists, a move that has excited shareholders. Publix, which owns 1,111 store locations, had previously partnered with U.S. app company Shipt to deliver groceries in South Florida, but the service has not always been successful in keeping up with demand, the Telegaph reports.

Tim Steiner, CEO, Ocado“We gave a deadline with the best intentions... but we realize we were over-optimistic about getting a deal done by the end of the year,” said Ocado’s Chief Executive Officer Tim Steiner in early February, explaining that Ocado was still in multiple discussions with prospective international partners regarding licensing its technology. Stiener added that it's “a big strategic decision” for them, adding, "We expect to sign multiple deals in multiple territories in the medium term.”

Valued at $18 billion, Publix is one of the largest regional U.S. grocery chains, and currently serves Florida, Georgia, North Carolina, South Carolina, Virginia, and Alabama. Publix has yet to comment on these rumors.

PublixOcado


New: Mariner Organic Little Dippers® Club House & Thin Wheat. Made Simple. Made Right. Frico CheesesLearn about our White Pizza Sauces and More!

Have a new product, press release or story idea?

Let us know

In This Story


Our mission at Publix is to be the premier quality food retailer in the world. Throughout our history, our associates and customers have helped Publix grow from a single store into the largest...

Ocado, the online supermarket. Do your food shopping online at ocado.com. Our trusted drivers will carry groceries, wine, toys, flowers, homeware and more to your kitchen table in a one hour slot.

Five Tasty Ideas to Liven Up Your Burgers and Patties

Pereg Natural Foods offers up a whole host of ways to switch up the classic summertime fare: hamburgers.
View Press Release