Morrisons sells Kiddicare business to Endless
LONDON (Reuters) - British grocer Morrisons (MRW.L) said on Monday it had sold its children and baby products business, Kiddicare, to private equity firm Endless for 2 million pounds.
The country's fourth largest supermarket group said it would retain the liabilities relating to 10 Kiddicare store leases but was confident the 163 million pounds provision it announced in March would cover all costs associated with its exit.
Alongside issuing a huge profit warning in March, Morrisons said it planned to dispose of Kiddicare as it no longer had a strategic role within the group.
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