Foreign companies sharply increased their acquisitions of UK transport, retail and manufacturing businesses in 2025. Analysis of Office for National Statistics data by Parcelhero points to a marked rise in both the number and value of deals.
In the broad ONS category covering wholesale, transport and accommodation, which includes retail, warehousing and courier businesses, 90 UK companies valued at more than £1 million were bought by overseas firms. The combined value of those acquisitions reached £17.7 billion.
That compares with 72 companies in the same category acquired by foreign buyers in 2024 for a total of £3.8 billion. On Parcelhero's analysis, the value of acquisitions in that group rose 363% year on year.
Manufacturing businesses also saw a rise in overseas takeovers. In 2025, 166 UK manufacturers valued at more than £1 million were acquired by foreign companies, with a combined value of £18 billion.
In 2024, 151 manufacturers were taken over by overseas buyers for a combined £6.3 billion. Parcelhero's analysis puts the increase in the value of foreign acquisitions at about 185%.
One of the most prominent transactions in the transport and retail-linked segment was Deliveroo's takeover by US company DoorDash, completed in the final quarter of 2025.
Outbound deals
The flow of deals was not entirely one-sided. UK-based companies also pursued acquisitions overseas, though at much lower levels than inbound foreign takeovers of British firms.
In 2025, 20 UK companies in the wholesale, transport and accommodation category acquired businesses abroad, with a total value of £1.6 billion. In manufacturing, 43 UK-based companies bought overseas targets valued at £4.99 billion.
Domestic mergers and acquisitions activity was quieter still. In the wholesale, transport and accommodation category, 106 UK businesses valued at more than £1 million acquired other UK companies, with a combined value of just under £1.4 billion.
Among manufacturers, 111 UK companies acquired domestic targets, with a combined value of just under £1.2 billion. The data suggests foreign buyers were far more active in purchasing British assets than UK companies were in buying either domestic or overseas businesses.
David Jinks, Head of Consumer Research at Parcelhero, said: "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 that includes transport, warehousing and retail were taken over by overseas firms, with those acquisitions worth a combined £3.8 billion. Similarly, 151 manufacturers valued at more than £1 million were taken over by foreign companies in 2024, with a combined value of £6.3 billion.
"That means the value of companies in the ONS category that includes retail, transport and warehousing bought by foreign firms jumped by 363% last year, while the value of UK manufacturers acquired by overseas companies rose by around 185%. As one example, UK-based Deliveroo plc was taken over by US company DoorDash Inc in a merger completed in the final quarter of 2025."
Sector grouping
The ONS grouping used in the analysis combines several industries, which affects how the transport and retail figures should be read. It also includes accommodation and hospitality businesses rather than isolating logistics and retail as standalone sectors.
Jinks said that, despite this limitation in the official tables, the figures still offer a broad view of current deal activity in those sectors. He added that foreign ownership can bring benefits alongside concerns about the loss of domestic control.
"As ever with statistics, that's not the full story. Oddly, the government groups retail, transport, warehousing and postal courier companies together with accommodation and hospitality in these tables. This combined 'wholesale, transport and accommodation' sector therefore 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 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 abroad. Twenty companies in the wholesale, transport and accommodation sector, the category that includes logistics, warehousing and courier businesses, acquired overseas firms for a total value of £1.6 billion. Similarly, 43 UK-based manufacturers acquired companies abroad valued at £4.99 billion. However, there is still a big difference between the number of UK firms acquiring overseas companies and foreign companies snapping up UK firms."
The figures add to pressure on the UK retail sector, where ownership changes have become part of a wider debate about the future of the high street. Some chains have improved after changing hands, while others have continued to struggle.
Jinks said: "The UK domestic M&A market was relatively quiet in comparison last year. In the wholesale, transport and accommodation category, 106 UK businesses valued at more than £1 million acquired other UK companies, with a combined value of just under £1.4 billion. Meanwhile, 111 UK manufacturers acquired UK companies, with a combined value of just under £1.2 billion.
"The fact that so many UK retailers in particular are falling into foreign ownership is just one of the issues the sector 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."