The Barclay family is set to lose control of another segment of their business operations as Carlyle Group, a US private equity firm, is anticipated to take over the Very Group. An announcement regarding this transition is expected shortly. This change will mark the end of the Barclay family’s two-decade ownership of Very, which they acquired in 2002 when it was known as a catalogue retailer named Littlewoods. The family has divested multiple businesses over recent years, including the Telegraph newspaper and London’s Ritz hotel, which significantly contributed to their wealth.
The decision regarding the change in ownership was confirmed during a board meeting of the Very Group, chaired by former Conservative chancellor Nadhim Zahawi. Since the death of David Barclay in 2021, the family’s financial position has appeared to decline. Previously, they faced challenges repaying substantial debts, resulting in the loss of control over the Telegraph newspapers.
Carlyle Group initially lent to the Very Group in 2021, providing an undisclosed amount, and later committed about £85 million as part of a £125 million debt package in 2024. Overall, Carlyle’s total financial contribution to Very is believed to exceed £500 million. Meanwhile, the Abu Dhabi-based International Media Investments, a lender to Very, is expected to remain involved in the business.
Despite the ownership transition, Very has reportedly shown positive financial performance, with increased profitability and revenues of £2.1 billion in the past year. Both Very and Carlyle Group have refrained from commenting on the developments surrounding the ownership change.
Source: https://www.theguardian.com/business/2025/nov/09/us-private-equity-giant-poised-to-take-over-online-retailer-the-very-group