Ocado-M&S Joint Venture Is Latest Sign of an Ailing U.K. Grocery Industry in Need of Consolidation
On Feb. 27, Ocado and Marks & Spencer announced the creation of an equal-participation joint venture, putting an end to rumors of a potential tie-up between the two companies. The joint venture will include Ocado's U.K. grocery retail business (GBP 1.5 billion sales, 700,000 customers) and a new partnership for fulfillment and delivery services provided by the Ocado Smart Platform (management of warehouses and logistics via an annual capacity fee under a long-term contract) along with produc...Tesco is a retailer. Co. and its subsidiaries are engaged in retailing and associated activities in the U.K. and Republic of Ireland; and Czech Republic, Hungary, Poland, Slovakia, Malaysia, and Thailand. Co. provides retail banking and insurance services through Tesco Bank in the U.K. Co. sells and services of motor and home insurance policies underwritten by Tesco Underwriting Limited, or in a minority of cases by a third-party underwriter. As of Feb 25 2017, Co. had a total of 6,809 stores worldwide, including 256 franchised stores.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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