9th June 2026
The number of UK transport, retail and manufacturing businesses acquired by overseas companies soared in 2025 over 2024. The international delivery expert Parcelhero says the number of foreign takeovers of British companies significantly outstripped UK acquisitions of overseas firms.
The latest Office for National Statistics (ONS) mergers and acquisitions tables reveal a spike in the number of major UK transport, retail and manufacturing businesses being acquired by foreign companies in 2025, compared to the previous year. This is according to an analysis from the international delivery expert Parcelhero.
Parcelhero says that 90 UK companies valued at over £1m in the sector which includes retail and transport businesses were acquired by foreign firms in 2025, with the combined value of the acquisitions worth £17.7bn. British manufacturers also faced a slew of foreign company takeovers. A total of 166 British manufacturers valued at over £1m were acquired by overseas companies, with a combined value of £18bn.
Parcelhero’s Head of Consumer Research, David Jinks M.I.L.T., says: ‘If that sounds like a lot of UK companies falling into foreign ownership, that’s because it is. In 2024, just 72 UK companies in the sector which includes transport, warehousing and retail were taken over by overseas firms, with the combined value of those acquisitions just £3.8bn. Similarly, 151 manufacturers valued at over £1m were taken over by foreign companies in 2024, with a combined value of £6.3bn.
‘That means that the value of companies in the ONS category which includes retail, transport and warehousing companies bought by foreign firms jumped by 363% last year, while the value of UK manufacturers acquired by overseas companies rose by around 185%. As just one example, the UK’s Deliveroo plc was taken over by the US company Doordash Inc in a merger that was completed in the final quarter of 2025.
‘As ever with statistics, that’s not the full story however. Oddly, the government groups retail, transport, warehousing and postal courier companies together with accommodation and hospitality in these tables. This combined “Wholesale, transport & accommodation” sector, then, also includes some companies not directly involved in logistics and retail. Nonetheless, the figures do give a useful overall picture of the current state of the retail and logistics sector.
‘Overseas investment in UK firms can actually bring many positives, of course. Not only in terms of new capital and investment, but also fresh ideas and perspectives.
‘Mergers and acquisitions were not entirely a one-way street last year, either. Some UK-based firms acquired companies based abroad. 20 “wholesale, transport & accommodation” sector companies, the category which includes logistics, warehousing and courier companies, acquired overseas firms – to the total value of £1.6bn. Similarly, 43 UK-based manufacturers acquired companies abroad valued at £4.99bn. However, there is still a big difference between the number of UK firms acquiring overseas companies and foreign companies snapping up UK firms.
‘The UK domestic M&A market was relatively quiet in comparison last year. 106 wholesale, transport & accommodation UK businesses valued at over £1m acquired other UK companies, with a combined value of just under £1.4bn. 111 UK manufacturers acquired UK companies, with a combined value of just shy of £1.2bn.
Foreign acquisitions of UK companies have accelerated significantly between 2024 and mid-2026, driven by relatively low valuations on the London Stock Exchange.
In the first two months of 2026 alone, foreign buyers agreed to \(\$142\) billion (approx. £110bn) in deals, representing a 26-year high in deal making activity.Below are key acquisitions in transport, retail, and manufacturing sectors from 2024 to mid-2026, based on.
Transport and LogisticsInternational
Distribution Services (Royal Mail): Acquired by EP Investment Sarl (Luxembourg) in Q2 2025 for £3.6 billion.
Wincanton PLC: Acquired by GXO Logistics, Inc. (USA) in Q2 2024.
Maritime Transport: Acquired by Medlog, a subsidiary of MSC (Switzerland).
Edge Worldwide Logistics: Acquired by DP World (UAE).ATL Haulage Contractors: Acquired by Hapag-Lloyd (Germany) in H1 2024.
Bishopsgate: Acquired by Elanders (Sweden) in H1 2024.
International Airfreight Associates (IAA): Acquired by JAS Worldwide (USA).
ManufacturingTI Fluid Systems PLC: Acquired by Apollo Global Management (Canada/USA) in Q2 2025.
DS Smith: Acquired by International Paper Co. (USA) in 2024 for £5.8 billion.
Tate & Lyle: Received a takeover offer from Ingredion (USA) in 2026.
Intertek Group: Received a £9.4 billion takeover proposal from EQT (Sweden) in May 2026.
Senior PLC: Received takeover approaches from a consortium of Tinicum and Blackstone (USA) in 2025/2026.
Retail and Consumer
Deliveroo Plc: Acquired by DoorDash INC (USA) in Q4 2025.
Britvic: Acquired by Carlsberg (Denmark) in 2024 for £3.3 billion.
Kurt Geiger: Agreed to be acquired by Steve Madden (USA) in February 2025.
William Hill (Evoke): Agreed to a £243.1 million takeover by Bally's Intralot (Greece) in 2026.
Unilever's Food Division: Subject to foreign takeover interest in 2026.
Key Trends
US Dominance: Just over half of foreign acquisitions of UK companies involve an American buyer.
High-Value Deals: Q4 2025 saw a massive spike in foreign acquisitions, totaling £27.4 billion.
Public-to-Private: Many UK firms are being taken private by foreign private equity firms due to low market valuation.
‘The fact so many UK retailers in particular are falling into the ownership of foreign companies is just one of the issues it currently faces. Some retailers have been reinvigorated under new management, while others have struggled. The High Street may not have reached a dead end by 2030 but, in this new age of retail, it will have arrived at its biggest crossroads. You can read and download our new report at https://newsroom.parcelhero.com/the-high-street-fights-back-final.pdf
ONS Report 2 June 2026
Mergers and acquisitions involving UK companies October to December 2025
Main points
The total estimated value of inward mergers and acquisitions (M&A) saw a notable increase in Quarter 4 (Oct to Dec) 2025, the highest since Quarter 2 (Apr to June) 2021, while the values of domestic and outward M&A decreased.
The value of inward M&A (foreign companies acquiring UK companies) during Quarter 4 2025 was £27.4 billion, £19.8 billion more than in Quarter 3 (July to Sept) 2025 (£7.6 billion); this was largely because of an increase in the number of deals over £1 billion.
The value of domestic M&A (UK companies acquiring other UK companies) was £1.8 billion during Quarter 4 2025, which was £5.3 billion lower than in Quarter 3 2025 (£7.1 billion).
The value of outward M&A (UK companies acquiring foreign companies) was £1.7 billion in Quarter 4 2025, which was £1.7 billion lower than in the previous quarter (£3.4 billion).
The provisional combined number of M&A involving a change in majority share ownership was 444 in Quarter 4 2025; this was a fall of 53 compared with the previous year.
There were an estimated 165 acquisitions involving a change in majority share ownership in October 2025, followed by a fall to 153 in November and further fall to 126 in December 2025.
We have produced domestic and cross-border M&A datasets by industry for the years 2019 to 2025; these are available in the datasets accompanying this bulletin.