What's Happening?
The Very Group, the parent company of Very and Littlewoods, has been acquired by a US-based global investment firm, marking the end of the Barclay family's 20-year involvement. Carlyle, the new controlling shareholder, aims to strengthen The Very Group's
balance sheet and provide financial flexibility to support long-term growth ambitions. The acquisition follows the group's latest financial results, which showed a significant rise in adjusted EBITDA. CEO Robbie Feather has described the deal as a milestone that will accelerate strategy, investment in technology, and customer experience, while building on existing business momentum.
Why It's Important?
The acquisition of The Very Group by Carlyle represents a significant shift in the company's ownership structure, potentially impacting its strategic direction and operations. With Carlyle's backing, The Very Group is poised to enhance its technological capabilities and customer service, which could lead to increased competitiveness in the retail sector. The move also reflects broader trends in the industry, where investment firms are increasingly involved in retail operations to drive growth and innovation. The end of the Barclay family's involvement marks a new chapter for The Very Group, with potential implications for its stakeholders and market positioning.
