Online grocer Ocado has agreed a new 10 year deal with Waitrose to sell the upmarket supermarket’s products.

Ocado has had the right to sell Waitrose goods since 2002, and this new deal ensures it can continue to use the Waitrose brand until September 2020.

The original contract was due to expire in 2013. This new one will help bolster Ocado’s chances of a float.

Ocado chief executive Tim Steiner said: “Waitrose is a fantastic brand and a great partner with whom we have worked so successfully together for the last decade. 

“This new agreement enables both sides to continue to grow and benefit from the relationship. In areas where Waitrose and Ocado trade together, we have both grown significantly ahead of our competition.  Our customers have shown both of us how much they value the relationship between Waitrose and Ocado.”

Waitorse managing director Mark Price said: “Waitrose and Ocado have worked well together for many years and are complementary businesses with a shared passion for high quality food, outstanding customer service and great value.  This new agreement paves the way for another long period of growth together.”