Very and Littlewoods owner Very Group has been bought by shareholder Carlyle.
The deal for the etailers sees the investment group take charge four years after it invested and ends the Barclay family’s 20-year involvement with the business.
‘This marks an important milestone for The Very Group as we move into an exciting new phase of growth,’ says Robbie Feather, The Very Group chief executive.
In October, The Very Group reported a pre-tax loss of £505.4m in the year to the end of June, compared with a £16.3m profit after it wrote down a £524.8m loan owed by the Barclay family’s holding company.
Media group IMI, which also invested in 2021, will remain a creditor and key stakeholder.
The deal’s financial terms were not disclosed.
