Barclay family consider £3bn Very Group flotation

The billionaire owners of Very Group are considering a £3 billion flotation of the online retail and financial services business.

According to Sky News the Barclay family, who also own The Daily Telegraph and a number of other media brands, are in the early stages of deciding whether to float the business to “capitalise on exploding investor interest in digitally led retailers.”

The news organisation said that the family had been considering the move prior to the death of Sir David Barclay, who along with his twin brother Sir Frederick High Barclay, built a media, retail, and property empire.

A decision on the initial public offering (IPO) is not imminent but Sky sources said that it was “under more serious contemplation than at any previous point.”

Sky said A decision about an initial public offering (IPO) of Very Group is not thought to be imminent, but sources close to the family acknowledged that it was under more serious contemplation than at any previous point.

Last week Very.co.uk reported a retail sales boost of 25.2 per cent across the seven weeks to 25 December 2020.

Commenting on the Christmas financial results, chief executive Henry Birch said: “We are delighted with Very’s outstanding performance, which shows UK families were more determined than ever to celebrate this Christmas, despite all the challenges of 2020. Because we sell everything our customers could possibly want except food, are online only and offer a range of payment options, we were perfectly placed to help a record number of people make the most of the festive period.

He added: “Christmas shopping started early at Very and our committed team worked tirelessly to deliver for our customers. Continued appetite for entertaining the family and home improvement during the pandemic resulted in strong growth across our electrical and home categories, in particular.”

Birch said that the company’s record-breaking performance was supported by its new fulfilment centre, which processed 3.9 million orders during peak,

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