British brands are in decline as the Brexit-induced fall in the pound makes companies more vulnerable to takeovers by foreign suitors, according to a report published Thursday. On average, brands including Lloyds Banking Group Plc and insurer Aviva Plc have lost about 6 percent of their worth since the U.K. voted to leave the European Union and 88 of the largest 140 brands have seen their value drop, said Brand Finance, a consultant that specializes in valuing intangible assets. “British brands are clearly vulnerable to takeover by foreign firms,” David Haigh, chief executive officer of Brand Finance, said in a statement. He cited Kraft Heinz Co.’s failed bid for Unilever, as well as Tokyo-based SoftBank Group Corp.’s acquisition of U.K. chip designer ARM Holdings Plc. Weakened consumer spending in the U.K. has also shrunk the value of airlines British Airways and Virgin Atlantic, Haigh said. Banks are at risk if their ability to do business across the EU comes under threat, he said, spurring a decline of 7 percent in Barclays’ brand value. Royal Dutch Shell Plc is Britain’s most valuable brand, worth 28.3 billion pounds ($36.5 billion), up 35 percent on last year due to rising oil prices, the consultant said.