Primark owner says larger stores to come under pressure from rates changes September 15, 2025 The boss of Primark’s parent firm has warned the Government that proposed business rates changes are “mistaken” and heap pressure on big stores on UK high streets. George Weston, the billionaire boss of Associated British Foods (ABF), told the PA new agency that the Labour Government “should not increase taxes on businesses any more” in [...]
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 [...]
Mark Kleinman: This is not just any retail cyber attack… May 8, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column This is not just any retail cyber attack… It’s hardly an exclusive club these days: a big listed company is the victim of a major cyber attack, compromising its systems and ability to continue serving customers. [...]
Kingsmill-owner ABF confirms merger talks with Hovis May 6, 2025 Kingsmill-owner ABF has confirmed it is in talks to merge with Hovis in what would become Britain’s biggest bread maker. ABF said the talks had been prompted by a “very challenging” market for its products. Rising prices of wheat and lower demand for high-calorie goods like bread have made it tougher to make a profit [...]
Breadmakers Hovis and Kingsmill in merger talks May 3, 2025 The owners of two of Britain’s biggest bread producers – Hovis and Kingsmill – are reportedly in discussions regarding a merger between the two firms as challenges deepen for the market. Associated British Foods (ABF), the owner of Kingsmill’s parent company Allied Bakeries, and investment firm Endless, which owns Hovis, are in talks about a [...]
City broker slashes price target for Primark-owner Associated British Foods January 24, 2025 Analysts at Panmure Liberum downgraded their rating for Primark-owner Associated British Foods from ‘Buy’ to ‘Hold’ after Primark underperformed over the festive quarter. Panmure downgraded its target price for ABF to 1900p from 2800p. Its share price currently sits at 1,892.50p after falling five per cent in the last five days. Associated British Foods reduced [...]