Member Article

Morrisons sells Kiddicare to private equity firm Endless for £2 million

Bradford-based Morrisons has announced the sale of Kiddicare for £2 million to Endless LLP, an independent UK based private equity house.

At its preliminary results announcement in March 2014, Morrisons confirmed that with the completion of the arrangement with Ocado and the successful launch of Morrisons.com, its Kiddicare business no longer had a strategic role within the Group and as a consequence, a disposal process would be undertaken.

Morrisons will retain the liabilities relating to ten Kiddicare store leases and is confident the £163 million provision announced at its preliminary results in March 2014, will cover all the costs associated with its exit from the business.

Kiddicare is a multichannel British retailer, selling nursery supplies and merchandise for children and young families. The business, founded in 1974, is headquartered in Peterborough and operates both online and from 11 stores.

Kiddicare recorded sales in the year ended February 2014 of circa £80 million. Morrisons, which acquired the business in 2011, announced earlier this year that Kiddicare was non-strategic and that it would seek a transfer to new ownership in 2014.

Garry Wilson, managing partner of Endless, said: “Kiddicare has a history as a trusted brand in the children’s market. We will be working hard with management to grow the business over the long-term.”

This was posted in Bdaily's Members' News section by Clare Burnett .