Ocado Group dropped its legal claim for a £190.7 million payment from Marks & Spencer. This payment depended on the Ocado Retail joint venture meeting undisclosed performance targets for the 2023 financial year. The venture failed to meet these specific benchmarks.
The dispute originated from a 2019 deal that launched M&S Food online. Reports indicate that M&S will make no final payment. This concludes the matter without formal litigation or a financial settlement.
An Ocado spokesperson identified Ocado Retail as the fastest-growing grocer in the UK. The company continues to collaborate with M&S to develop the business's potential.