US-based investment firm Elliott has expressed interest in acquiring The Very Group, potentially entering a bidding war with rivals including China’s e-commerce giant JD.com, according to Sky News. Elliott previously pursued an acquisition of UK electronics retailer Currys in 2024.
Reports from late last month indicated that JD.com was considering a takeover valued at approximately £2bn as part of a strategic push to expand its presence within the UK market.
The retailer transitioned to Carlyle’s ownership last November for an undisclosed amount, marking the end of the Barclay family’s long-term control and paving the way for a new era of international ownership.
In preparation for a potential sale, the group bolstered its financial position in February by extending critical debt facilities to 2030 and reducing its total debt by £150m.
Established in 2005, The Very Group was formed through the merger of Littlewoods and Shop Direct, both of which were acquired by Sir Frederick and the late David Barclay between 2002 and 2004.
The Barclay family’s business portfolio has faced significant financial instability in recent years. This included the loss of the Telegraph Media Group in 2023 following a failure to repay loans to Lloyds Banking Group.
Additionally, as part of a broader liquidation of assets to alleviate financial pressure, the family sold delivery firm Yodel in February 2024.
The Very Group has declined to comment on the reports, and Elliot Advisors has been contacted for further information.
