Endless acquires Kiddicare
TURNAROUND investor Endless has acquired Morrisons’ baby products retailer Kiddicare for £2m.
Morrisons, which acquired the business in 2011 for £70m announced earlier this year that Kiddicare was non-strategic and that it would seek a transfer to new ownership in 2014. The Bradford-based supermarket took a £163m writedown on the lossmaking business as part of the sale process.
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 £80m.
Garry Wilson, managing partner of Leeds-based private equity house 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.”
