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Fundraising: Spearheaded by actress Michelle Keegan (pictured) Very sells clothing, footwear and electronics.
The Barclay family has raised £125m of funding for US and UAE private equity Very Group.
The Merseyside-based company, owned by Barclays and specializing in finance and online retail, will receive £85m from Carlyle and £40m from Abu Dhabi-based IMI.
The deal is a boost for the Barclay family, whose plans to sell The Telegraph to overseas buyers – including IMI – are being investigated by regulators and the Government.
As part of the deal with Very, Carlyle and IMI will each hold a seat on the group’s board of directors.
Led by actress Michelle Keegan, Very sells clothing, footwear and electronics.
The investment announcement came as the company posted a half-year loss of £2m, having made a profit of £2.1m at the same time in 2023.
The company has also launched a search for a president after Dirk Van den Berghe announced his resignation.
Aidan Barclay, son of Sir David Barclay, who created Very Group from the former Littlewoods and Shop Direct businesses with his brother Sir Frederick, will act as chairman until the role is filled.