OnBuy Acquires Iconic Comet Brand to Reinvent UK Electronics Retail

Deal News | May 21, 2025 | Business Cloud

OnBuy, a rapidly expanding eCommerce marketplace, has acquired the Comet brand from Misco Technologies. Comet, a household name in consumer electronics, was initially placed into administration in 2012, then acquired and relaunched as an online business by Misco in 2020. OnBuy plans to relaunch the Comet brand in Q4 2025 as part of a long-term growth strategy, injecting over £10 million into rejuvenating the brand as a key player in the UK's £25bn consumer electronics sector. The acquisition aims to strengthen OnBuy's position as a formidable competitor to well-established firms like Amazon and Currys. OnBuy's innovative business model, which connects millions of customers with top brands and retailers, promises to rebuild Comet into a modern eCommerce marketplace that offers significant value and a seamless shopping experience. Adam Muir, managing director at Misco, expressed confidence in OnBuy's plans, looking forward to seeing the legacy brand reach new heights under its new owner. The acquisition aligns with OnBuy's broader strategic vision, following its significant growth in sales and profits, as consumer sentiment shifts away from US tech giants.

Sectors

eCommerce
Consumer Electronics

Geography

United Kingdom – Both OnBuy and Comet are based in the UK, and the focus of the acquisition is on revitalizing the brand within the UK consumer electronics space.

Industry

eCommerce – The acquisition of Comet by OnBuy highlights the strategic developments within the digital marketplace sector as they work to enhance Comet's online presence in the UK consumer electronics field.
Consumer Electronics – Comet has been a longstanding brand in the consumer electronics industry, and the acquisition is set to influence the UK's £25bn sector, positioning OnBuy as a strong player.

Financials

£10 million – OnBuy plans to inject over £10 million into the Comet brand as part of its revitalization strategy.
£150 million – The volume of UK sales facilitated by OnBuy in 2024.
£20 million – Gross profits generated by OnBuy in 2024.
50% – Year-on-year sales growth reported by OnBuy.

Participants

Name	Role	Type	Description
OnBuy	Acquirer	Company	An eCommerce marketplace rapidly expanding in Europe and seeking to enhance its presence in the UK consumer electronics sector through strategic acquisitions.
Comet	Target	Company	A historic UK electronics retail brand previously closed in 2012, recently reactivated as an eCommerce entity, and known for its consumer electronics sales.
Misco Technologies	Vendor	Company	The previous owner of the Comet brand, responsible for rejuvenating it as an online business before selling to OnBuy.
Cas Paton	CEO and Founder of OnBuy	Person	Leading OnBuy with strategic plans to integrate Comet into OnBuy's digital marketplace ecosystem.
Adam Muir	Managing Director at Misco Technologies	Person	Involved in selling Comet to OnBuy and confident in the brand's future growth under OnBuy’s ownership.