Who Owns Whom

The Small Business, Enterprise and Employment Act 2015 introduced a new role to all

United Kingdom companies, limited liability partnerships, CIC’s and SE companies, called

’persons with significant control’.

This study looks at all companies registered in the United Kingdom where a foreign

concern has control where control is defined as:

Ownership of shares - more than 50%

Ownership of voting rights - more than 50%

Right to surplus assets - more than 50%

Has significant influence or control

Right to appoint and remove members or persons

There are 24,292 companies that are controlled by foreign concerns in this way.

There are 16,661 foreign controlling concerns.

There has been a long history of foreign ownership: British Oxygen by Linde of Germany,

Cadbury by Kraft of the USA, Boots by Walgreens of the USA, Worldpay by Vantiv of the

USA, Ladbrokes Coral by GVC of the Isle of Man, Aldermore by FirstRand of South Africa,

Holland & Barrett by Letterdone of Luxembourg, Body Shop by Natura Cosmeticos of

Brazil, Innovia by CCLSyrinix of Canada, Rockspring by Patrizia Immobilien of Germany,

Cott’s Bottling by Refresco of the Netherlands, Jimmy Choo by Michael Kors of the British

Virgin Islands, Novae Group by Axis Capital of Bermuda, Micheldever by Sumitomo

Rubber of Japan, Lavendon by Loxam of France, Parkdean Resorts by Onex of Canada,

Autodata by Solera of the USA, Office Group by Blackstone of the USA and Audiotronix by

Astrog of France.

Other famous brands, in no particular order, are Weetabix, Branston Pickle, Terry’s

Chocolate, Tetley and Typhoo, Newcastle Brown Ale, Glenlivet, Scottish Power, Thames

Water, EE mobile network, Arriva buses, HP Sauce, Walker Crisps, Hartley’s Jam, Jaguar

cars and Bass Ales.

These foreign owned companies contributed £324 billion or 27 percent in approximate

gross value added (aGVA) to the UK’s non-financial business economy. The non-financial

business economy accounts for two-thirds of the UK economy in terms of aGVA.

Two concerns have been raised recently. Firstly, knowing the true beneficial owners of UK

companies as exemplified in the Panama Papers; and secondly, the ease at which foreign

companies can acquire UK companies. The former will benefit from further disclosure from

their respective company registries, and the latter as businesses look towards the French

model of corporate acquisition.