End of an Era as US Private Equity Firm Takes Control
In a significant shift for the UK retail landscape, online retail giant The Very Group has been taken over by US private equity firm Carlyle, marking the conclusion of more than two decades under the stewardship of the Barclay family. The Washington-based firm, which had been a major lender to The Very Group since 2021, has now assumed the role of controlling shareholder.
The transition was confirmed on Monday, 10th November 2025, ending a lengthy period of ownership by the Barclay family. Fellow lender Abu Dhabi-based investment fund, International Media Investments (IMI), will remain as a key stakeholder in the business, ensuring some continuity amidst the change.
A Changing of the Guard for the Barclay Empire
This move represents the latest in a series of high-profile disposals for the Barclay family, which has been compelled to relinquish control of several cornerstone businesses in recent years. Their portfolio losses have included The Daily Telegraph newspaper, The Ritz hotel in London, and the delivery company Yodel.
The family, led by identical twins Sir Frederick and the late Sir David Barclay, first entered the retail scene by purchasing the Littlewoods catalogue business in 2002. This was later merged with Shop Direct in 2004, eventually evolving into the digitally-focused entity known today as The Very Group. Sir David passed away in January 2021 at the age of 86.
Robbie Feather, the Group Chief Executive of The Very Group, commented on the milestone, stating: "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."
Strong Financials Pave Way for Future Growth
Despite the upheaval in ownership, The Very Group enters this new chapter from a position of considerable strength. The company, which specialises in selling electrical products, homeware, and clothing, has delivered impressive financial results. Just last month, it reported a 16% rise in underlying earnings to £307 million for the year to June 28th, with sales reaching £2.1 billion.
Mr Feather paid tribute to the outgoing owners, recognising "their stewardship and contribution to the company over the past two decades." A company statement elaborated, noting that under the Barclay family's leadership, the business "has grown significantly – evolving from a traditional catalogue business into one of the UK’s largest and most dynamic online retailers." The statement concluded that "The Barclay family pass on a business that is performing very strongly."
The company's board is chaired by former chancellor Nadhim Zahawi, who was appointed to the role in May last year, adding further political and business weight to its leadership as it navigates this new ownership structure.
