JD.com Weighs £2 Billion Bid for The Very Group Post-Restructuring
JD•JD.com is exploring a roughly £2 billion bid for The Very Group, which generated over £2 billion in annual revenue and serves 4.4 million customers under the Very and Littlewoods brands. The UK retailer entered a formal auction following Carlyle's takeover and recent financial restructuring.
1. Potential Acquisition Details
JD.com is exploring an approximately £2 billion ($2.7 billion) bid for The Very Group, which has entered a formal auction process following its financial restructuring. This move could mark a significant expansion of JD.com's presence in the UK online retail sector.
2. The Very Group Financials and Brands
The Very Group, operating under the Very and Littlewoods brands, records over £2 billion in annual revenue and serves 4.4 million customers across fashion, electronics, homewares and toys. It also includes a consumer finance division that underwrites customer purchases.
3. Ownership History and Restructuring
US private equity firm Carlyle assumed control of The Very Group for a nominal £1 after insolvency administrators were appointed in November. Carlyle has since injected capital, including an £85 million investment in 2024 on top of its initial 2021 commitment.
4. Strategic Context for JD.com
JD.com's planned $2.5 billion acquisition of Ceconomy is under EU antitrust review ahead of a 28 May preliminary deadline, following delays by Austrian regulators. Concurrently, JD.com has launched its Joybuy platform in the UK as part of its broader international expansion strategy.
