Associated British Foods plc
Associated British Foods plc is a diversified international food, ingrediants and retail group with global sales of £6 billion and 75,000 employees. It is listed on the London Stock Exchange with a market capitalisation of £7.2 billion. It operates in 46 countries with significant businesses outside Europe in Southern Africa, the US, China and Australia.
Its aim is to achieve strong, sustainable leadership positions in markets that offer potential for profitable growth. It strives to achieve this through a combination of organic growth, the acquisition of complementary businesses and achievement of high levels of operating efficiency. The group has established a track record of successful value adding acquisitions including Illovo Sugar, AB Mauri (its leading international yeast and bakery ingredients business), Littlewoods stores for Primark and the grocery brands Mazola and Ovaltine.
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History
The company was developed by Canadian businessman, W. Garfield Weston, in tandem with his North American operations, George Weston Ltd.. ABF was incorporated in 1935. It was initially a bakery business, and it promoted the concept of selling sliced bread in the 1930s. The group's subsidiaries include British Sugar plc (bought in 1991), flour milling group Allied Mills, animal foodstuffs company Allied Grain and food ingredients company Abitec Corporation. It also owns a discount clothing retailer, Primark (Penneys in the Republic of Ireland). Current brands of ABF subsidiaries include Allison, Sunblest and Kingsmill bread, Silver Spoon, Ovaltine, Ryvita, Mazola oil and Twinings tea.
Following the death of the founder in 1978, control of ABF was passed on to his son Garry, while the North American operations fell to his son Galen. While Garry maintained the company's prominence in the European foods market, ABF's growth has been eclipsed by the phenomenal performance of George Weston Ltd.. George G. Weston of the British Westons became chief executive of ABF on 1 April 2005, and Galen Weston, the chief executive of George Weston Ltd, is a non-executive director. Garth Weston is Regional President of AB Mauri.
The company formerly owned the Burtons Biscuits brand which it sold in 2000 to a private equity firm and is now part of Burtons Foods.
In 1997 ABF sold its retail operations in Northern Ireland and the Republic to Tesco. These businesses were: Quinnsworth and Crazy Prices in the Republic of Ireland and Stewarts Supermarkets Ltd and Crazy Prices in Northern Ireland, the Stewarts Winebarrel off-licence chain, Lifestyle Sports & Leisure Ltd. (a retail sports and leisure business), Kingsway Fresh Foods (a meat processing facility) and Daily Wrap Produce (a fruit and vegetable packaging plant).
In May 2007 the group purchased Patak's Indian food businessCite error: Closing </ref> missing for <ref> tag
Related
Contact Details, links, notes
Contact
- Address: Associated British Foods plc , Weston Centre, 10 Grosvenor Street, London, W1K 4QY
- Tel: + 44 (0) 207 399 6500
- Website: http://www.abf.co.uk
External links
- Official site
- ACCC v George Weston Foods Limited - Court Warns of Dangers of Not Having a Compliance Culture
- Primark is named as least ethical clothes shop By Martin Hickman Consumer Affairs Correspondent
Published: 08 December 2005
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