Morrisons snaps up former Best Buy stores to grow Kiddicare venture
Morrisons has snapped up 10 former Best Buy stores to expand the Kiddicare business it bought last year.
The retailer will invest £15m in overhauling the stores, which were axed by Best Buy owner Carphone Warehouse late last year.
The first of the new stores will open by the autumn. They are the first outlets for Kiddicare beyond its Peterborough flagship and will create an estimated 700 jobs.
“These 10 flagship stores will put Kiddicare within easy driving distance of nearly a third of the UK population,” said Kiddicare chief executive Scott Weavers-Wright.
“As well as being fantastic destination superstores for families across the country, they are the ideal platform for Kiddicare.com to lead the baby market by giving a true multi-channel experience.”
Morrisons paid £70m for Kiddicare in February 2011. The company reported annual sales of £37.5m in 2010.