US investment firm Carlyle has become the controlling shareholder of The Very Group, drawing a close to more than two decades of ownership by the Barclay family.

The retailer, which operates the Very and Littlewoods brands, said the transaction strengthens its capital base and offers greater financial flexibility to support long-term growth. International Media Investments (IMI) will remain a key stakeholder and lender. Sky News reported that the board met on Sunday to ratify the change of control, and that Carlyle injected several hundred million pounds into the capital structure to secure ownership.

Chief executive Robbie Feather called the deal “an important milestone” as the business enters a new phase. “Carlyle and IMI’s continued support gives us the foundation to accelerate our strategy, invest further in technology and customer experience, and build on the strong momentum across the business,” he said, adding: “I also want to thank the Barclay family for their leadership and commitment over the past 20 years.” The remarks were carried by Retail Gazette.

The Very Group highlighted stronger recent trading. On 24 October, it reported adjusted EBITDA up 15.9 per cent to £307.1 million, its highest margin on record, alongside lower operating costs and an improved net promoter score.

The company counts more than four million customers and offers flexible payment options via its Very Pay platform, regulated by the Financial Conduct Authority.

The Guardian reported that Carlyle first lent to The Very Group in 2021 and provided about £85 million from a £125 million package in 2024, with total financing thought to exceed £500 million.

It added that the change of control ends a period in which the Barclays have surrendered other assets, including Yodel and the Telegraph newspapers. Sky News said the business, previously Shop Direct and before that Littlewoods, last changed hands in 2002 for £750 million.

Nadhim Zahawi, the former Conservative chancellor, was appointed chair last year, replacing Aidan Barclay.

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