Transactions that move the retail, consumer and leisure industries

Consumer Markets M&A Deals newsletter January 2026

PwC Consumer Markets M&A Deals nieuwsbrief december 2025
  • 18 Feb 2026

Although the number of deals last year was eight per cent lower than in 2024, the outlook for this year is positive. We are already seeing an increase in deal activity in the US and the United Kingdom and expect that Europe, the Middle East and Asia will follow.

According to our annual Global Investor Survey, respondents do not anticipate a strong macroeconomic tailwind in the coming year, but 77 percent indicate that they expect a rise in M&A investments. Investors will mainly look for companies that are transforming through technology, crossing sector boundaries, and are transparent about the risks associated with innovation.

In December, a total of 152 deals took place, an increase of 28 deals compared to last year. Some notable transactions include:

  • the acquisition of AI Fitness by Nord Holding,

  • NKD Deutschland was acquired by Mr Price Group,

  • the Van Eerd family acquired all HEMA shares from Parcom – from fifty percent to full ownership.

The most active sector (based on the number of deals) in December was ‘Accommodation’ with 25 deals, including:

  • City Developments Ltd and Copthorne Hotel Holdings Ltd acquired Holiday Inn London,

  • Duques de Bergara SL acquired Gallery Hotels and Hotel Molina Lario, and

  • IRG10 SOCIMI SA acquired Novotel Valencia Lavant.

Read more in the January edition of our newsletter

(PDF of 2.28MB)

Contact us

Wilmer Kloosterziel

Wilmer Kloosterziel

Partner, PwC Netherlands

Tel: +31 (0)61 386 40 62

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