Online marketplace OnBuy has acquired iconic British electronics retailer Comet from Misco Technologies and plans to invest over £10m into reviving the heritage brand as it strengthens its ambitions to challenge e-commerce giants.
The firm, founded by Manchester-born entrepreneur Cas Paton says the relaunch of Comet is set for Q4 2025. The acquisition forms part of a broader strategy to disrupt the UK’s £25bn consumer electronics market and bolster OnBuy’s long-term growth.
Paton, who has previously spoken to Prolific North about Manchester being a “key focus” and his “home town,” has long planned to expand OnBuy’s Northern footprint. The company already employs a number of its tech team in the city – including its Chief Technology Officer and Head of Product – and has previously committed £10m to new roles and offices in Manchester as part of its scaling efforts.
Now, the revival of Comet under the OnBuy umbrella further signals his ambition to build a nationwide challenger brand with strong Northern foundations.
“Comet is a brand long associated with offering the very best deals in home appliances and consumer electronics,” said Paton, CEO and founder of OnBuy. “Its heritage is one that we want to protect and enhance using our innovative technology and business model.”
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“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.”
He added: “We’re not just reviving a name; we’re reimagining what trusted electronics retail looks like in a digital-first economy.”
Founded in 1933, Comet was a high street staple before closing in 2012. Reflecting on the acquisition in a LinkedIn post, Paton shared how visiting Comet with his late father was one of his most vivid childhood memories—highlighting a deep personal connection to the brand.
Adam Muir, managing director at Misco Technologies, said: “Following six years of exponential growth in our core business, we’ve taken the decision to sell the Comet brand. We’re delighted to be leaving this household name in the hands of one of Britain’s leading technology businesses.”
OnBuy, which relocated its HQ to London earlier this year, reported a record-breaking 2024, with more than £150m in UK sales and gross profits exceeding £20m. The company has enjoyed 50% year-on-year sales growth since 2017, attributing part of its rise to shifting consumer sentiment away from US tech giants.
