The extension of its relationship with Asda comes as shares in Deliveroo struggle to make headway back towards their 390p flotation price in 2021, Sky News understands.
The London-listed food delivery service Deliveroo is deepening its ties with Asda as it seeks to drive revenue growth from its grocery operations.
Sky News understands that the pair are to open a rapid-delivery site in Tottenham Hale, north London, called Deliveroo HOP next month which will offer more than 1,300 Asda products in as little as 15 minutes.The move will come as they expand their core grocery partnership to 350 stores, a significant chunk of the privately owned supermarket chain's UK estate.
Deliveroo has expanded aggressively beyond its origins as a restaurant food delivery network, striking partnerships with retailers including the Co-op and J Sainsbury. Carlo Mocci, Deliveroo's chief business officer for the UK and Ireland, said the HOP service was"our newest innovation that gives customers a speedier service and improved product availability.
Deliveroo went public on the London stock market in March 2021, but saw its shares crash in what was branded one of the City's worst-ever flotations.
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