Misco has offloaded Comet six years after acquiring the iconic brand and resuscitating it as an online-only retailer.
New owner OnBuy today confirmed plans to inject over £10m into the Comet brand in a bid to “resurrect it as a marketplace at the apex of e-commerce”.
OnBuy – an “e-commerce juggernaut” which facilitated over £150m of UK sales in 2024 – claimed the move will position it as a “serious challenger” to consumer electronics giants such as Amazon and Currys.
“OnBuy’s marketplace already connects millions of customers with top brands and retailers, and we’re uniquely positioned to rebuild Comet into a powerhouse for consumer electronics, just as it once was – but with a modern, digital-first approach that will deliver incredible value and a seamless shopping experience to customers,” OnBuy Founder and CEO Cas Paton stated.
“We’re not just reviving a name; we’re reimagining what trusted electronics retail looks like in a digital-first economy.”
OnBuy said it will fully integrate Comet into its marketplace network.
Talking to IT Channel Oxygen, Paton characterised the acquisition as being “part of a larger market play”.
“We will use our network to feed supply, but Comet will have no ‘reference’ to OnBuy,” he said.
The team behind Misco resuscitated the Misco brand in 2019 before unveiling plans to do the same with Comet – which had been dormant since 2012 – a few months later.
Misco’s holding company – Comet Group Ltd – turned over £73.7m in calendar 2023, ranking it 69th in the recent Oxygen 250 2025.
“Following six years of exponential growth in our core business, we’ve taken the decision to sell the Comet brand,” stated Misco Technologies Managing Director Adam Muir.
“We’re delighted to be leaving this household name in the hands of one of Britain’s leading technology businesses. OnBuy has highly ambitious plans to redefine Comet’s reputation as an e-commerce juggernaut, and we look forward to seeing this legacy brand taken to new heights.”
