​Barclay family expected to lose ownership of Very Group as private equity firm steps in

Investment group Carlyle is set to take ownership of the online retailer as early as this autumn, according to Sky News.

Carlyle is the biggest lender to Very Group’s immediate parent company, and entered a long-term partnership in 2024 when Very also received a £125m funding package.

Under the terms of financing arrangements, the publication reports that Carlyle could take ownership as soon as October, ending the Barclay family’s reign at the company.

Sources said Carlyle was expected to hold further discussions in the following weeks with fellow creditors such as IMI. They added that the investment firm is likely to end up with a majority stake in Very Group once it applies a “step-in right” which converts debt into equity ownership.

Very Group also borrowed £600m from Mayfair-based fund Arini earlier this year to fend off a cash crunch.

In October 2024, Very Group appointed bankers as it was potentially eyeing up a £2.5bn sale, but a formal process was never launched.

The Barclay family was looking to offload Very Group several years ago, but it was below the valuation it was hoping for.

It is also reported that IMI is expected to be pivotal to the discussion around the retailer’s future.

Its latest results to the 39 weeks to March 29 showed a 3.8% fall in revenue to £1.67bn, with sales in home and sports performing strongly.