Morrisons has finally sold its stake in Fresh Direct

Emma Haslett
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Morrisons said in 2014 that it was planning to sell its stake in the business (Source: Getty)

Morrisons has disposed of its 10 per cent stake in wholesale business Fresh Direct, it said today - almost 18 months since it first announced plans for the selloff.

The supermarket said today it had got £45m from the sale - a premium of £14m to the £31m holding value of its equity investment.

Morrisons said in March 2014 that it was planning to sell off Fresh Direct along with Kiddicare, which it sold for £2m a couple of months later.

Since then, the business has most notably made a push into online retail. Last week it unveiled plans to extend the partnership - paying reduced fees to Ocado.

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