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Investment firm Elliott Advisors is considering a takeover bid for online retail platform The Very Group, according to a report by Sky News.
The initial interest from the US-based investor, which owns bookselling chains Waterstones and Barnes and Noble, could value the digital retailer at approximately £2bn.
Very, the digital shopping platform, is chaired by former chancellor Nadhim Zahawi and serves 4.4 million customers across its core retail brands, Very and Littlewoods. The business, which generates annual revenues exceeding £2bn, also operates a consumer finance division to assist shoppers with credit payments.
The potential sale follows a financial restructuring last year where American private equity firm Carlyle took ownership control of the Liverpool-based business from the Barclay family.
The Barclay family had owned the retail group for more than twenty years following a £750m acquisition of the business in 2002. The family has recently relinquished control of several other corporate assets, including the Yodel delivery network and The Daily Telegraph newspapers.
Elliott is expected to face competition for the digital retailer from rival international bidders, including China’s largest online merchant, JD.com.
The takeover interest emerged as the investment company prepares for a combined London stock market flotation of its global bookselling brands.
Elliott has been contacted for comment.
