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Kiddicare.com started as a small family-owned retailer selling baby and children’s goods.
Based in Peterborough, it has evolved into a leading online retailer, and in the past three years, its sales have risen 75% to £37.5m. More than 80% of those sales are online. The company owns a freehold distribution facility and operates Europe’s largest baby nursery equipment store. Neville Wright and his wife, Marilyn, both 60 – respectively a former builder and a hairdresser – were the founders and remained the owners until February this year, when Morrisons, the supermarket giant, took over their business in a £70m deal. The Wrights will continue to run the company under the auspices of Morrisons. The 2011 Sunday Times Rich List valued the family at £55m, allowing for any funding returned to the business.
Earnings & Financial Data
Date |
Category |
Description |
Amount |
---|---|---|---|
2011 |
Sale of Asset |
Sale of entrepreneurs Neville Wright and Marilyn Wright's brand Kiddiecare to supermarket chain Morrisons |
$88,500,000 |