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Morrisons hands over Kiddicare to private equity group Endless
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.