The Very Group has announced that US-based global investment firm Carlyle has become its controlling shareholder.
The news marks the end of the Barclay family’s 20-year involvement in the business, while International Media Investments (IMI) will remain a key stakeholder.
In a statement The Very Group, which is the parent company of Very and Littlewoods, said the deal would strengthen its balance sheet and give it greater financial flexibility to deliver on its long-term growth ambitions.
It also noted that the move underlines Carlyle and IMI’s ongoing confidence in the group, having backed it since 2021.
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The announcement follows The Very Group’s latest results, which showed a 15.9% rise in adjusted EBITDA to £307.1 million for the full year.
Chief executive Robbie Feather described the deal as “an important milestone” for the business as it enters a new phase of expansion.
“Carlyle and IMI’s continued support gives us the foundation to accelerate our strategy, invest further in technology and customer experience, and build on the strong momentum across the business,” he said.
“I also want to thank the Barclay family for their leadership and commitment over the past 20 years.”
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