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Morrisons invests in FreshDirect, the American online retailer
United States
Tuesday 15 March 2011
MD
With this acquisition, Morrisons will take advantage of the FreshDirect skills to launch its own online service in the United Kingdom.
The British chain Morrisons is taking its first step in the food distribution in line with the purchase of 10% of FreshDirect, the American online retailer.
Morrisons has acquired a 10% of FreshDirect, which is leader in online grocery, food products and fruit and vegetables. The transaction would amount to £ 32 million (37 million €).
FreshDirect, based in New York is the U.S. leader in online grocery. Morrisons considers that the skills acquired by FreshDirect allows him to develop its own services in the United Kingdom.
Morrisons plans to introduce a non-food online service next year, and an online grocery service in London in the next 2 years.
Source: Financial Times, Telegraph
