The Very Group, parent company of Very and Littlewoods, has announced that a US-based global investment firm is now its controlling shareholder, ending the Barclay family's 20-year involvement. International Media Investments (IMI) remains a key stakeholder.
© The Very Group
Carlyle's takeover of the Very Group aims to strengthen The Very Group's balance sheet, providing greater financial flexibility to support long-term growth ambitions. The move follows the group's latest results, which showed a 15.9% rise in adjusted EBITDA to £307.1 million for the full year.
CEO Robbie Feather described the deal as "an important milestone," highlighting that Carlyle and IMI's backing will accelerate strategy, investment in technology, and customer experience, while continuing to build on existing business momentum.
Source: www.retailgazette.co.uk
