Can Primark go it alone after ABF split? Retail FTSE 100 giant Associated British Foods ended months of rumour when it announced its demerger from Primark. Felix Armstrong explores how the budget clothes retailer will fare on its own. Walk into Oxford Street’s Primark, battle through the tightly packed rows of cut-price clothing, and your eyes will seize on the bright blue lights of [...]
Associated British Foods shares slide as £10bn Primark spin-off confirmed Retail FTSE 100 titan Associated British Foods has confirmed plans to spin off clothes retailer Primark, signalling a dramatic change in direction for the food and retail firm. Shares in the firm slid more than six per cent on Tuesday’s open, leaving the stock down 16 per cent in the year so far. The market had [...]
Primark appoints Eoin Tonge as chief executive Retail Fast fashion juggernaut Primark has appointed a new chief executive, as the company looks to tighten its product offerings and bolster marketing firepower. Primark owner Associated British Foods (ABF) appointed Eoin Tonge permanent chief executive on Thursday, cementing him in the top job following his tenure as interim chief. Tonge has served as a director [...]
Associated British Foods shares slide after Primark sales slump January 8, 2026 Shares in Associated British Foods (ABF), the owner of Primark, tumbled in early trading on Thursday morning after the FTSE 100 giant warned of a “difficult trading environment” and downgraded the fashion retailer’s growth forecasts. ABF, which owns the chain alongside its wholesale food business, said like-for-like sales across continental Europe declined as much as [...]
ABF: Primark owner’s shares sink as sales slow at FTSE 100 giant September 10, 2025 Shares in Primark owner Associated British Foods (ABF) have plunged after posting what analysts branded a “mixed bag” of results. The FTSE 100 warned that challenging conditions were weighing on the company’s trading, listing consumer caution, geopolitical uncertainty and inflation as top factors. Shares plunged 13 per cent on the news to their lowest value [...]
Breadmakers Hovis and Kingsmill merger agreed August 15, 2025 A deal to merge two of Britain’s biggest bread producers – Hovis and Kingsmill – has been agreed after months of talks. Associated British Foods (ABF), the owner of Kingsmill’s parent company Allied Bakeries, has agreed a deal with investment firm Endless, which owns Hovis to acquire the brand. The financial terms of the deal have not yet [...]
Breadmakers Hovis and Kingsmill butter up £75m merger July 26, 2025 Bread producers Hovis and Kingsmill are set for a historic merger with their owners expected to ink an agreement after months of discussion. Kingsmill, whose immediate parent Allied Bakeries is owned by London-listed Associated British Foods (ABF), and Hovis could benefit from up to £50m of annual cost savings from a merger. The proposed agreement, [...]
Hovis: Losses widen amid Kingsmill merger talks July 9, 2025 Losses have widened at bread maker Hovis amid ongoing merger talks with the owner or rival Kingsmill, it has been revealed. Hovis, which is backed by private equity firm Endless, saw its pre-tax losses go from £3.6m to £4.7m in the year to 28 September, 2024. New accounts filed with Companies House also show its [...]
ABF confirms plans to shut bioethanol plant despite last-minute government negotiations June 26, 2025 Associated British Foods has confirmed plans to shut its Yorkshire bioethanol plant despite the government entering formal negotiations to rescue the site, in a blow to Labour’s new industrial strategy. The food producer, which also owns the retail giant Primark, said it had now begun consultation with employees to effect an orderly wind-down, with purchases [...]
Twinings: Profit jumps to almost £100m at tea brand May 28, 2025 Profit at British tea brand Twinings has increased to almost £100m thanks to a “significant growth in the domestic market”. The London-headquartered business has reported a pre-tax profit of £99.1m for the 12 months to 31 August, 2024, up from the £95m it achieved in the prior year. New accounts filed with Companies House also [...]