Morrisons hands over Kiddicare to private equity group Endless

 
Kasmira Jefford
Follow Kasmira
Morrisons has sold its Kiddicare business (Source: Getty Images)
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.

Related articles