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
Metal Polishing Supplies, a highly desirable ‘Run from Home’ opportunity established by our client in May 2008. The highly profitable business is now being offered for sale due to genuine health reasons and we strongly advise early enquiries to avoid...
The business is run and managed by our client, with the help of 11 full time members of staff, 6 being qualified butchers. The business is being sold as a Freehold opportunity with 2 x 1-bedroom flats above the premises, both of which are currently l...
FREEHOLD
The business runs as a vehicle repair garage offering a range of services. The garage offer classes 1, 2, 4, 5 and 7 up to 3.5t light commercial MOT’s. Much trade is from garages that don’t have MOT bays themselves. The garage also offers repairs for...
LEASEHOLD
|
12
|
|
Nov
|
MBO at Gloucestershire bricklayers | MBO/MBI
Gloucestershire building services firm Cavendish Park Brickl...
|
07
|
|
Nov
|
Successful MBO at Homefair Blinds | MBO/MBI
Homefair Blinds has been acquired in an MBO led by a trio of...
|
06
|
|
Nov
|
SKS completes four acquisitions | BUSINESS SALE
SKS Business Services has announced the acquisition of four ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
10
|
|
Sep
|
Health company acquires mint and gum maker | BUSINESS SALE
Newcastle-under-Lyme-headquartered health group Health Made ...
|
22
|
|
Jun
|
My Local convenience store chain heads towards administration | ADMINISTRATION
Convenience store chain My Local faces being pushed into adm...
|
10
|
|
Sep
|
Sale agreed for Morrisons convenience stores | BUSINESS SALE
Talks of a sale of Morrisons convenience stores have been in...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources