The Very Group announces takeover by Carlyle
The Very Group, the parent company of Very and Littlewoods, 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. International media group IMI will remain as a key stakeholder.
In a statement, The Very Group said the transaction will strengthen its capital base and provide greater financial flexibility to support long-term growth plans. The company added that the move reflects Carlyle and IMI’s continued confidence in the group, having supported the business since 2021.
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Last month, The Very Group announced that its full year adjusted EBITDA had increased by 15.9% to £307.1 million.
Robbie Feather, chief executive of The Very Group, said: “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.”
