News Column

Morrisons hands over Kiddicare to private equity group Endless

July 15, 2014

KASMIRA JEFFORD



SUPERMARKET chain Morrisons confirmed yesterday it has sold its Kiddicare business to private equity group Endless Capital for 2m.


The Yorkshire-based grocer bought the online baby products retailer in 2011 for 70m as part of its bid to build its online presence.


However, the company announced in March that it had taken a 163m writedown on the loss-making business and put up it for sale.


Morrisons said Kiddicare no longer fitted in with its strategy after its 216m tie-up with Ocado.


The supermarket said it would retain the liabilities relating to ten Kiddicare store leases.


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Source: City A.M. (UK)


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