In a significant shift for the UK retail landscape, the Barclay family has concluded its more than two-decade-long ownership of The Very Group, selling the online retail giant to a consortium led by US private equity powerhouse Carlyle.
End of an Era for the Barclays
The sale, confirmed on Monday 10 November 2025, marks the latest in a series of high-profile asset disposals by the Barclay family. Their portfolio has recently seen the departure of iconic holdings including the Ritz Hotel in London, the Yodel delivery firm, and the Telegraph newspaper.
The Very Group itself was born in 2004 from the merger of the Littlewoods catalogue business and Shop Direct, a move orchestrated by the identical twin brothers, Sir Frederick Barclay and the late Sir David Barclay. Sir David passed away in January 2021 at the age of 86.
The decision to sell follows a period of financial strain for the family. They lost control of the Telegraph after encountering difficulties repaying substantial loans. This culminated in Lloyds Banking Group seizing the family's media assets due to overdue debts exceeding £1bn.
A Strong Business in a Challenging Market
Despite the ownership turmoil, The Very Group has demonstrated robust underlying financial health. For its latest financial year, the retailer reported earnings before interest, tax, depreciation, and amortisation (EBITDA) of over £307m.
This figure represented a impressive year-on-year increase of nearly 16 per cent, driving a record earnings margin of 14.7 per cent. However, this success was set against a slight dip in overall revenue, which fell 1.8 per cent to £2bn.
The company also saw a 1.5 per cent decline in its total active UK customer base, which now stands at 3.6 million. Performance across product categories was mixed. The home category was a standout performer, surging by 9.9 per cent, while fashion and sport sales declined by 3.7 per cent, a drop the group attributed to a heavily discounted and competitive market.
An Exciting New Chapter
Moving forward, control of The Very Group will be shared between Washington-based Carlyle and Abu Dhabi's International Media Investments (IMI).
Robbie Feather, the group chief executive of The Very Group, commented on the transition, stating: “This marks an important milestone for The Very Group as we move into an exciting new phase of growth.”
He also paid tribute to the outgoing owners, acknowledging the Barclay family's “stewardship and contribution to the company over the past two decades.” This acquisition signals a new direction for one of the UK's leading online retailers, closing a defining chapter in its history.
