Morrisons sells stake in US online grocer for £45m
Morrisons has completed the sale of its 10% stake in the US online food retailer Fresh Direct for £45m.
The Bradford-headquartered supermarket chain acquired its stake in Fresh Direct for £32m in 2011, in an effort to develop its online food business in the UK.
Launched in 2002, Fresh Direct serves customers in New York, New Jersey and Connecticut.
In March 2014, Morrisons announced that it would dispose of its investment in the US food retailer at an appropriate time.
The £45m sale represents a premium of £14m to the £31m holding value of the equity investment.
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular Yorkshire & The Humber morning email for free.
Our Partners
How businesses can reduce workplace safety risks with custom solutions
Tech firm unveils jobs plan after £530,000 backing
SMEs urged to think big at Newcastle event
B Corp is a commitment, not a one-time win
Government must get in gear on vehicle transition
A legacy in stone and spirit
Shaping the future: Your guide to planning reforms
The future direction of expert witness services
Getting people into gear for a workplace return
What to expect in the Spring Statement
Sunderland leading way in UK office supply market
Key construction developments in 2025