Very Group proposes buyout of N Brown amid competing offers

In a notable move within the UK retail sector, Very Group, chaired by former chancellor Nadhim Zahawi, approached N Brown with a buyout proposal several weeks ago. This offer comes at a time when N Brown’s board recommended a 40p-a-share offer from Joshua Alliance, showcasing the competitive nature of the acquisition landscape. The market reacted positively to the news, leading to a sharp rise in N Brown’s share price, reflecting investor optimism amid the potential for significant corporate changes. The interest from Very Group, which is part of a family-owned business, is seen as a strategic maneuver as very Group seeks to explore its own sale, with an estimated valuation reaching £2 billion. This strategic review is being facilitated by major financial institutions, including Barclays, JP Morgan, and Morgan Stanley. The corporate maneuvers are indicative of market shifts where firms are looking for opportunities amid evolving retail dynamics. Both Very Group and N Brown have declined to comment publicly on these developments, indicating a level of uncertainty as to how these negotiations may unfold. The ongoing corporate activities highlight a critical juncture for both entities as they navigate potential changes that could redefine their business operations and market positions. Overall, the dynamics between Very Group and N Brown represent a broader trend of consolidation and strategic investment within the retail sector in the UK, as companies adapt to changing consumer behaviors and economic conditions.