Morrison Supermarkets Plc has recently announced the acquisition of multi-channel online retailer Kiddicare, together with the rights to its highly regarded technology platform, for £70 mn. The acquisition is the first step in developing Morrisons’ online business.
The company will continue to trade separately as kiddicare.com, led by Scott and Elaine Weavers-Wright, who will pursue an ambitious growth agenda.
Founded in 1974 by Neville and Marilyn Wright, Kiddicare is the UK’s leading specialist online retailer of baby products. The company’s turnover in the last full financial year (2010) was £37.5 mn and has grown by 75 per cent in the last three years using leading web technology and picking software.
Morrisons intends to build its online non-food business, developing the kiddicare.com platform and management team, launching its first products in 2012.
Dalton Philips, chief executive of Morrisons, says, “This acquisition brings not only a respected, successful and fast growing specialist retailer into the Morrisons group, but also a robust, scalable and highly advanced technology platform around which we can begin to build our e-commerce offer.”
– IndiaRetailing Bureau