Observed Signal · Sep 5, 2026 · M&A - Announced · Source: Retail-News · Impact: 2/5 · Sentiment: Negative
Very Group sale collapses as bids fall short of £2bn
The planned sale of British online retailer The Very Group is on the verge of collapsing, as owner Carlyle fails to find a buyer willing to meet its minimum valuation of around £2 billion. According to Sky News, the sales process is likely to be abandoned. Carlyle took control in November 2025 as part of a financial restructuring, paying a nominal £1. Although a sales process was initiated, it was not a binding commitment. Potential bidders, including Chinese e-commerce giant JD.com and US investor Elliott Advisors, showed preliminary interest but did not submit offers at the desired level. The company has shown operational stability, with adjusted EBITDA up 15.9% to £307.1 million in FY2024/25, despite flat revenue. Carlyle is expected to retain ownership and focus on improving profitability and growth before potentially attempting another sale.
This is a notable retail M&A story but has limited direct impact on AdTech/MarTech, focusing on financial restructuring and sale process.
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Key Takeaways & Evidence Grounding
- The Very Group's sale process is likely to be scrapped as bidders failed to meet the £2bn asking price.
- Carlyle acquired The Very Group in November 2025 for a nominal £1 as part of a debt restructuring.
- JD.com and Elliott Advisors were potential bidders but did not meet the valuation.
- The Very Group's FY2024/25 revenue declined 1.8% to £2.09bn, while adjusted EBITDA rose 15.9% to £307.1m.
- Carlyle extended Very's financing lines to 2029/2030 and reduced interest rates on senior secured notes from 13.25% to 9.75%.
Connected Companies & Entities
3 Entities mapped“Owner Carlyle apparently fails to find a buyer willing to accept the required minimum valuation of around two billion pounds.”
“The Chinese retail conglomerate JD.com was considered a particularly relevant interested party.”
“US investor Elliott Advisors was also said to have shown preliminary interest in Very.”
Ontology Mapping & Concepts
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
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