The Very Group finds new ownership, Barclay family exits

The Very Group, the parent company of Very and Littlewoods, has been taken over by US investment firm Carlyle, seeing the exit of its long-time owners, the Barclay family. IMI will remain as a key stakeholder in the group.

In a press release, The Very Group said the takeover was a “positive outcome” that provided a “strengthened capital base and enhanced financial flexibility”. With this, the group garners support for its long-term growth plan, backing its existing management team in delivering strategic priorities.

The transaction – the financial details of which were not disclosed – brings to an end 20-years of ownership over The Very Group by the Barclay family. The company underlined that during this period it has “grown significantly”, evolving from a traditional catalogue model to an established online retailer.

For Carlyle, which will now collaborate with Abu Dhabi-based IMI on leading The Very Group, the acquisition reflects a heightened commitment to the company, having already supported the UK e-tail giant since 2021.

Carlyle had previously served as Very’s biggest lender, however reports earlier this year suggested that the firm was looking to exercise a “step-in right”, through which it would convert its debt into equity ownership. The structure of the transaction has not been confirmed.

A new phase of growth under fresh leadership

Back in 2024, Very had already been embroiled in sale speculation after it was said to have been “forced” into exploring the option as part of a strategic review. While at the time, it was believed to be facing increased financial pressure, in the current period, the group said it was “performing very strongly” on the back of delivering “record earnings growth” in its latest full year results.

Much of its efforts have been focused on driving innovation and leveraging technology and data to improve its customer offering, two of its core strategic priorities that it hopes to accelerate under new ownership. In September, this was further emphasised by the introduction of a new elevated fashion collection, the launch of which had been “grounded by customer data and insights”.

In a statement, Robbie Feather, group CEO, said on the ownership transition: “This marks an important milestone for The Very Group as we move into an exciting new phase of growth. We are delighted to continue to partner with Carlyle and IMI. Their continued backing provides us with a stronger foundation to execute on our strategy, increase investment in technology and the customer experience, and to build on the momentum across the business. I’d like to thank the Barclay family for their stewardship and contribution to the Company over the past two decades.”