British supermarket chain the Co-op has joined forces with online meal ordering and delivery firm Just Eat Takeaway to offer home delivery for groceries across the country, the companies have said.
Details
Shoppers will be able to order items from the Co-op for delivery in as little as under 30 minutes via the Just Eat app and website.
The partnership will initially offer the service from 50 Co-op stores in the United Kingdom and expand to over 1,000 stores by spring 2023.
Just Eat already has partnership deals in the country with Asda, the UK's No. 3 supermarket group, wholesaler Booker, which is part of market leader Tesco, and fast food group Greggs.
Online's share of the UK grocery market was 11.3% in November, according to data from market researcher NielsenIQ.
Investor Cat Rock Cuts Stake In Just Eat Takeaway, Says Still Committed
The above news was followed by news that US investor Cat Rock, previously the second-largest shareholder in meal delivery firm Just Eat Takeaway.com, has sold part of its stake, according to an SEC filing.
"Cat Rock remains firm in its belief that Just Eat Takeaway is significantly undervalued and has strong long-term prospects", the firm said in a statement.
The filing on 15 December showed the stake standing at 4.93% with 10.65 million shares as of Dec. 12. Refinitiv data showed the investor had previously held around 14.79 million shares, or 6.85%.
The largest shareholders in Just Eat are now founder Jitse Groen with 7.1%, Baupost Group with 6.5%, Caledonia Investments with 6.15%, and UBS Asset Management with 5.85%.
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