The US private equity giant Carlyle is buying The Very Group, once known as Shop Direct, from previous owners the Barclay family
The Very Group confirmed that Abu Dhabi-based fund International Media Investments (IMI), a lender to the business, will remain a key stakeholder.
“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,” said group Robbie Feather. “Their continued backing provides us with a stronger foundation to execute on our strategy, increase investment in technology and the customer experience, and build on the momentum across the business.”
In its latest results, for the year ending June 28, 2025, The Very Group posted revenues of £2.09bn with the highest earnings margin (adjusted EBITDA at 14.7%) that it has ever reported. The company operates both the Very brand and Littlewoods.
Sky News first reported that The Very Group board, chaired by former chancellor Nadim Zahawi, met on Sunday to confirm the changes.
Carlyle has been an ongoing lender to the retail business since 2021. This lending has set the groundwork for the takeover.
The Nasdaq-listed firm has over $474bn (£360bn) in assets under management as of September 30, 2025.
The Very Group traded under Littlewoods when it was bought by the Barclay brothers in 2002 for £750m. The home shopping business was merged with and renamed Shop Direct a few years later, moving from a catalogue business to a major ecommerce player.
The retailer has also developed a sizable consumer finance business. It took in £433.6m in revenue from its finance division in its latest financial year.
“I’d like to thank the Barclay family for their stewardship and contribution to the company over the past two decades,” said Feather.
No comments yet