Investment company Elliott Advisors is reportedly among the parties exploring a potential acquisition of UK online retail platform The Very Group, in a deal that could value the business at around £2bn ($2.68bn).
Sky News reported that Elliott has shown early-stage interest in buying the Liverpool-headquartered retailer, which counts 4.4 million customers and posts annual revenue exceeding £2bn.
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Very sells fashion, toys, furniture and electrical goods under its Very and Littlewoods brands.
Elliott’s possible move puts it in contention with other interested parties, including China’s JD.com.
The interest comes at a time when Elliott is also laying the groundwork for a London listing of bookshop chains Waterstones and Barnes & Noble.
The sale process follows Very’s takeover by investment entity Carlyle, which came after a financial restructuring.
Earlier this year, administrators confirmed they were launching an immediate sale process for the retailer.
In November 2025, PwC was appointed as the administrator for VGL Holdco, Very’s former parent company.
The administration process allowed Carlyle to take full control of VGL Holdco. Already a long-term creditor, the investment company secured ownership of the business for just £1.
Carlyle had earlier put several hundred million pounds into The Very Group’s capital structure, including a further £85m injection in 2024.
The retailer is expected to change ownership later this year.
Earlier this year, the company also completed a refinancing of its key borrowings, pushing maturities out to 2029-2030 and reducing costs after cutting debt by £150m.
Backed by Carlyle, the refinancing extends all note tranches under the group’s £1.77bn UK securitisation facility to 1 February 2029 at improved margins.
Very has also renewed its £150m super senior revolving credit facility, extending its maturity to February 2030.
