Observed Signal · Sep 5, 2026 · M&A - Announced · Source: Retail-News · Impact: 2/5 · Sentiment: Negative
M&A Market: 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.
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 mappedElliott
Private investment manager focused on ownership, activism and strategic capital.
“Auch der US-Investor Elliott Advisors soll vorläufiges Interesse an Very gezeigt haben....”
Carlyle
Global alternative asset manager and private markets investor.
“Eigentümer Carlyle findet offenbar keinen Interessenten, der die geforderte Mindestbewertung von rund zwei Milliarden Pfund akzeptiert....”
JD.com
Chinese e-commerce platform with logistics and retail media capabilities.
“Als besonders relevanter Interessent galt der chinesische Handelskonzern JD.com....”
Ontology Mapping & Concepts
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