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Morrisons to offer online shopping in Ocado tie-up Morrisons to offer online shopping in Ocado tie-up
(35 minutes later)
Morrisons, the UK's fourth largest supermarket chain, is going into business with internet grocer Ocado.Morrisons, the UK's fourth largest supermarket chain, is going into business with internet grocer Ocado.
Morrisons says it has agreed a deal that will enable it to launch an online grocery service by January 2014.Morrisons says it has agreed a deal that will enable it to launch an online grocery service by January 2014.
The website and delivery vans will be Morrisons branded, with logistical support by Ocado from its Dordon distribution centre in the Midlands.The website and delivery vans will be Morrisons branded, with logistical support by Ocado from its Dordon distribution centre in the Midlands.
At the moment, Morrisons is the only one of the big four chains not to offer online shopping.At the moment, Morrisons is the only one of the big four chains not to offer online shopping.
Morrisons will make an initial payment of £170m to Ocado to acquire the Dordon centre, then a further £46m to expand it and establish a delivery network.Morrisons will make an initial payment of £170m to Ocado to acquire the Dordon centre, then a further £46m to expand it and establish a delivery network.
Chief executive Dalton Philips told the BBC: "This is a very good transaction for both parties. We're going from a standing start to the fast lane in the blink of an eye." Chief executive Dalton Philips told BBC Radio 4's Today programme: "This is a very good transaction for both parties. We're going from a standing start to the fast lane in the blink of an eye."
Morrisons expects a return on its investment within three or four years, he said.Morrisons expects a return on its investment within three or four years, he said.
Ocado said its current contractual agreement with Waitrose would "remain unaffected by these arrangements" and that customers would experience "no change to the service" as a result of the deal.Ocado said its current contractual agreement with Waitrose would "remain unaffected by these arrangements" and that customers would experience "no change to the service" as a result of the deal.
It will continue to deliver Waitrose food from the Dordon centre.It will continue to deliver Waitrose food from the Dordon centre.
At present, Morrisons is the only one of the "big four" supermarkets not to sell food online. But before the Morrisons deal was announced, Waitrose managing director Mark Price expressed concern, telling the BBC: "I'll want to look really closely at that contract to see whether there is any breach of the agreement we have [with Ocado]".
In March, Morrisons reported a 7.2% fall in pre-tax profits to £879m for the year to 3 February - its first drop in full-year profits for six years. Waitrose signed a deal with Ocado in 2000 and now serves up to 40,000 online shoppers a week.