Very Group mulls private equity firm buyout

Online retailer Very is understood to be seeking a potential takeover offer from a number of private equity firms, but has been faced with an obstacle in the form of a hefty valuation.

It has been reported that the long-time owners of Very, the Barclay family, have been approaching such companies in a bid to offload the retailer’s assets.

However, according to The Times, little interest has been shown by potential buyers, many of which are said to have been deterred by the four billion pound valuation the family is keeping in place.

The news comes days after speculation already surrounded the Barclays regarding a similar attempt to secure new owners for their delivery firm Yodel, for which Sky News reported that a number of discussions with bidders were already underway.

The Very Group, meanwhile, has been undergoing a transformation of its own, largely centred around the implementation of new technologies in order to enhance its online presence.

This came as a response to a deteriorating financial situation for the firm, which ultimately reported a 3.4 percent sales spike for the Christmas and Black Friday period, representing what it said was a growth in market share.