Shop Direct reportedly looking for £3bn buy out

Online department store, Shop Direct is reportedly seeking a £3bn price tag for the etail group with potential suitors already lined up.

The online retailer, that owns brands such as Very and Littlewoods, has received interest from a clutch of private equity firms, according to Retail Week.

In the coming weeks, Shop Direct will enter into talks with the interested parties, including Advent International, Bain Capital, BC Partner, Cinven, CVC Capital Partners and Permira.

The talks could lead to the sale of part or all of Shop Direct, while a formal offer for the company still remains to be made.

Shop Direct owners, the Barclay Brothers, are reportedly keen to ‘secure bids of £3bn and upwards for the retail group’ to reflect its value and account for its £1bn debt.

Shop Direct, run by Alex Baldock, posted a nine per cent rise in sales over the Christmas trading period. 

About Robert Hutchins

Robert Hutchins is the editor of Licensing.biz and ToyNews. Hutchins has worked his way up from Staff Writer to the position of Editor across the two titles, having spent almost eight years with both ToyNews and Licensing.biz, and what now seems like a lifetime surrounded by toys. You can contact him by emailing robert.hutchins@biz-media.co.uk or calling him on 0203 143 8780 You can even follow him on Twitter @RobGHutchins if ranting is your thing...

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