Fri, 11 Jul 2014 | DIVISION SALE
Private equity firm Endless is leading the race to season Kiddicare from Morrisons.
The supermarket announced that it was to sell the baby products retailer in March this year after it had suffered poor trading results. Sky News has since revealed that Leeds-headquartered Endless is on the brink of completing a deal to take over the business.
Bought in 2012 for £70 million, the online company provides products and accessories for babies and children. Morrisons' interest at the time stemmed largely from the need to grow its online platform and support Kiddicare's requirement for capital growth, but the supermarket chain announced that the business recorded a loss of over £160 million last year and as such was no longer a viable avenue for growth.
Endless specialises in the acquisition of non-core assets and turnaround situations. Neither company has released a statement to confirm the news but it is thought that a deal could be completed by the start of next week.
The acquisition could include the sale of all ten stores under the Kiddicare brand or it may involve the closure of some sites before the papers are signed. Furthermore, having spoken to sources close to the two companies, Sky News has said that the grocer may have to pay a “substantial dowry” to the successful bidder.
Better Capital is reported to be the major rival to Endless in the bid to secure Kiddicare from Morrisons.
______________________________________________________________________
Related information:
Morrisons puts Kiddicare business up for sale
Business acquisition funding
Founded in 2018, this business has grown from a passion project into a leading manufacturer of luxurious, bespoke shepherd huts and glamping products.
Established in 1990, this company has evolved into a market leader in the dynamic field of digital signage solutions, building on over 30 years of expertise in computer graphics, animation, and technology integration.
Langleys of Norwich is believed to be the second oldest continually trading toy shop in the UK after Hamleys, with its history traceable to the 1880s. It has touched the lives of many generations, and the grandchildren of its very first customers now...
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.