U.S. private equity giant Carlyle has acquired The Very Group, ending more than two decades of ownership by the Barclay family. The deal sees Carlyle, previously a major lender to the online retailer, become its controlling shareholder, while Abu Dhabi-based International Media Investments (IMI) remains a key stakeholder.
The move concludes a long chapter for the Barclay family, who also lost control of The Daily Telegraph, The Ritz hotel, and Yodel in recent years following financial pressures. The family originally bought the Littlewoods catalogue business in 2002 and merged it with Shop Direct in 2004, laying the foundation for what became The Very Group.
CEO Robbie Feather said the acquisition marks a major milestone for the company, paving the way for greater investment in technology and customer experience. He expressed gratitude for the Barclays’ two decades of stewardship, which transformed the business into one of the UK’s largest e-commerce retailers.
Despite the change in ownership, The Very Group continues to post solid results, reporting a 16% rise in underlying earnings to £307 million on £2.1 billion in sales for the year ending June 28. Former UK chancellor Nadhim Zahawi, appointed chairman in 2024, will continue to oversee the next stage of the company’s growth under Carlyle’s ownership.
Source: Express & Star
