Morrisons in £70m online baby steps

Morrisons took the first major step in its e-commerce strategy yesterday with the acquisition of online retailer Kiddicare for £70 million.

The supermarket giant, the only one of the "big four" grocers not to have a significant internet business, said it would use the kiddicare.com platform and management team to build an online non-food business.

Kiddicare, founded in 1974 by Neville and Marilyn Wright, generated turnover of 37.5m last year and has grown 75 per cent in the past three years.