Associated British Foods

{{Infobox company

| name = Associated British Foods plc

| logo = Associated British Foods Logo.svg

| former_name = George Weston Holdings plc (1934–1994){{Cite web |date=1934-10-20 |title=Associated British Foods PLC overview - Find and update company information - GOV.UK |url=https://find-and-update.company-information.service.gov.uk/company/00293262 |access-date=2023-08-07 |website=Companies House |language=en}}

| type = Public

| traded_as = {{lse|ABF}}
FTSE 100 Component

| foundation = {{start date and age|df=yes|1935|10|20}}

| founder = W. Garfield Weston

| location = London, England, UK

| area_served = Worldwide

| key_people = {{ubl|{{wd-chairperson}}|{{wd-ceo}}}}

| industry = {{Ubl

| Food processing

| Retail

}}

| products = {{hlist|Food|ingredients}}

| revenue = {{increase}} £20.073 billion (2024){{cite web|url=https://www.abf.co.uk/content/dam/abf/corporate/ar-assets-2024/pdfs/abf-annual-report-2024.pdf.downloadasset.pdf|title=Annual Report and Accounts 2024|publisher=Associated British Foods|access-date=8 February 2025}}

| operating_income = {{increase}} £1.998 billion (2024)

| net_income = {{increase}} £1.480 billion (2024)

| assets = {{increase}} £19.014 billion (2024)

| equity = {{increase}} £11.278 billion (2024)

| num_employees = 138,000 (2025){{cite web|url=https://www.abf.co.uk/about_us/our_group/overview|title=About us|publisher= Associated British Foods|access-date=8 February 2025}}

| owner = Wittington Investments (54.5%)

| subsid = {{Ubl

| AB Agri

| AB Mauri

| AB Sugar

| AB World Foods

| Allied Bakeries

| Allied Mills

| ACH Food Companies

| Primark

}}

| homepage = {{URL|https://abf.co.uk}}

| footnotes =

}}

Associated British Foods plc (ABF) is a British multinational food processing and retailing company headquartered in London, England.

Its ingredients division is the world's second-largest producer of both sugar and baker's yeast and a major producer of other ingredients including emulsifiers, enzymes and lactose.{{cite web| url=http://www.abf.co.uk/grpintroduction.aspx|title=Introduction|access-date=26 September 2010|publisher=Associated British Foods plc| archive-url= https://web.archive.org/web/20100922082158/http://www.abf.co.uk/grpintroduction.aspx| archive-date= 22 September 2010 | url-status= live}} Its grocery division is a major manufacturer of both branded and private label grocery products and includes the brands Mazola, Ovaltine, Ryvita, Jordans, Kingsmill and Twinings. Its retail division, Primark, has some 384 stores across several countries, predominantly Germany, Ireland, Netherlands, Spain, and the UK. ACH Food Companies is an American subsidiary.

Associated British Foods is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

History

= 20th century =

The company was founded by Canadian W. Garfield Weston in 1935, initially as Food Investments Limited, with the name changing to Allied Bakeries Limited a month later.{{cite web |url=http://www.bakersfederation.org.uk/memberprofile.aspx?id=1 |title=Bakers Federation |publisher=Bakers Federation |access-date=15 May 2010 |archive-url=https://web.archive.org/web/20100407033318/http://www.bakersfederation.org.uk/memberprofile.aspx?id=1 |archive-date=7 April 2010 |url-status=dead |df=dmy-all }}

Between 1935 and 1956, ten national and regional bakery companies were acquired by Allied, including Barrett and Pomeroy, and London and Provincial Bakeries. The largest acquisition at this time was in 1955 when Allied bought the British operations of the Aerated Bread Company, founded in 1862. This acquisition included both the bakery business and the chain of cafeterias, the A.B.C. Tearooms.Richard Evely and I. M. D. Little, Concentration in British Industry (Cambridge: Cambridge University Press, 2011) p.258 Allied paid $8.1 million for A.B.C. At that time, Allied had a large share of the UK baked goods market. Allied's market share prior to acquiring A.B.C. was 10% of all UK bread production and the sale of 20 million biscuits per day. Allied's sales the year prior were $154 million with profits of $12.6 million in current dollars."[https://web.archive.org/web/20081215044814/http://www.time.com/time/magazine/article/0,9171,807051,00.html Barnum of Bread]," Time. Monday, 14 February 1955. (Retrieved 2009-05-13.) With the acquisition of A.B.C., Allied almost doubled its share of the UK's bread market by the end of the decade.Oddy, Derek J. and Derek S. Miller. The Making of the Modern British Diet. Croom Helm. 1976, p. 27 In December 1954 they purchased from Howardsgate Trust the single Fine Fare Supermarket in Welwyn Garden City, the Welwyn Store grocery branches and the bakery businesses owned by the Trust.{{cite book|url=https://books.google.com/books?id=cWBPAAAAMAAJ&q=%22howardsgate+trust%22+weston|title=Welwyn Garden City|author=Maurice De Soissons|date=1988|isbn=9780904928235|publisher=Publications for Companies|page=145}}{{cite book|url=https://books.google.com/books?id=iOBOAAAAMAAJ&q=%22howardsgate+trust%22+weston|title=A History of Welwyn Garden City|author=Roger Filler|date=1986|isbn=9780850335903|publisher=Phillimore|pages=125–127}}

Allied, under its new name, adopted in 1960, of Associated British Foods, continued to run A.B.C. as a separate brand after its takeover, with a major A.B.C. bakery in Camden Town, London. This closed in 1982 and the A.B.C. name was retired.{{cite web |url=http://www.locallocalhistory.co.uk/ctown/p150/pages159-165.htm |title=The Early History of Sainsbury's in Camden |website=Locallocalhistory.co.uk |access-date= 14 December 2016}}

Following the death of the founder in 1978, control of the company was passed on to his son Garry, while the North American operations fell to his son Galen.{{cite news|url=https://www.telegraph.co.uk/news/obituaries/1385010/Garry-Weston.html|title=Garry Weston|work=The Daily Telegraph|date=16 February 2002|access-date=25 February 2018}}

The company sold Fine Fare in 1986 to the Dee Corporation, and in 1991, went on to acquire British Sugar.{{Cite news|url=https://www.independent.co.uk/news/obituaries/garry-weston-729753.html |archive-url=https://web.archive.org/web/20090302065902/http://www.independent.co.uk/news/obituaries/garry-weston-729753.html |url-status=dead |archive-date=2 March 2009 |title=Obituary: Garry Weston |work=The Independent |location=UK |date= 16 February 2002|access-date=15 May 2010 }} In 1997, ABF sold its retail operations in Ireland (including Northern Ireland) to Tesco.{{cite news |title=ABF's £1.5bn cash mountain provides investors with food for thought |first=Derek |last=Pain |url=https://www.independent.co.uk/news/business/stock-market-week-abfs-pounds-15bn-cash-mountain-provides-investors-with-food-for-thought-1267175.html |work=The Independent | location=UK |date=14 April 1997 |access-date=28 July 2012}} These businesses were: Quinnsworth and Crazy Prices in the Republic of Ireland and Stewarts Supermarket Limited and Crazy Prices in Northern Ireland. This sale also included 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).{{cite web|url=http://ec.europa.eu/competition/mergers/cases/decisions/m914_en.pdf|title=Regulation (EEC) No 4064/89 Merger Procedure|page=2|date=5 May 1997|publisher=EU|access-date=25 February 2018}}

In May 1994, Greggs acquired the Bakers Oven chain from the company.{{Cite web|url=http://www.greggs.co.uk/about_us/history |title=Greggs - history |date=16 January 2010 |access-date=15 November 2016 |url-status=dead |archive-url=https://web.archive.org/web/20100116091108/http://www.greggs.co.uk/about_us/history |archive-date=16 January 2010 }}

File:Argo starch.jpg.]]

= 21st century =

In 2000, the company sold its interests in Burton's Biscuits.{{Cite news|last=Wootliff |first=Benjamin |url=https://www.telegraph.co.uk/money/main.jhtml?xml=/money/2000/10/31/cnabf31.xml |title=Wagon Wheels roll west as ABF sells Burton's |work=The Daily Telegraph |location=UK |date=31 October 2000 |access-date=15 May 2010 }}{{dead link|date=July 2021|bot=medic}}{{cbignore|bot=medic}} In 2002, it acquired the Mazola corn oil, Argo and Kingsford's cornstarch, Karo and Golden Griddle syrups, and Henri's dressing brands, along with several Canadian brands, from Unilever;{{cite web |url=http://www.achfood.com/overview.cfm |title=ACH Foods Company Overview |publisher=achfood.com |access-date=7 December 2013 |url-status=dead |archive-url=https://web.archive.org/web/20131215000103/http://www.achfood.com/overview.cfm |archive-date=15 December 2013 |df=dmy-all }}{{cite web|url=http://www.prnewswire.com/news-releases/ach-food-companies-inc-buys-unilevers-mazola-corn-oil-and-associated-brands-77078937.html |title=ACH Food Companies, Inc. Buys Unilever's Mazola Corn Oil and Associated Brands |publisher=prnewswire.com |date=23 April 2002 |access-date=7 December 2013}} in 2004, it acquired the Tone's spice business and Fleischman yeast business from Burns Philp;{{cite web |url=http://www.secinfo.com/dsvr4.18f8.htm |title=Burns Philp & Co Ltd |publisher=Secinfo.com |access-date=15 May 2010 |archive-date=21 October 2008 |archive-url=https://web.archive.org/web/20081021014442/http://www.secinfo.com/dsvr4.18f8.htm |url-status=dead }} and in 2007, it purchased Patak's Indian food business.[http://news.bbc.co.uk/1/hi/business/6700173.stm "AB Foods buys curry firm Patak's"] BBC News Online Tuesday, 29 May 2007

On 26 March 2011, Associated British Foods, and its parent company Wittington Investments, were targeted over tax avoidance by UK Uncut during anti-cuts protests.[http://www.ukuncut.org.uk/blog/press-release-uk-uncut-occupy-tax-dodgers-fortnum-and-mason UK Uncut Occupy Tax Dodgers Fortnum and Mason] {{webarchive|url=https://web.archive.org/web/20110329141844/http://www.ukuncut.org.uk/blog/press-release-uk-uncut-occupy-tax-dodgers-fortnum-and-mason |date=29 March 2011 }}. 26 March 2011. The tax avoidance scheme involved moving capital between ABF/Primark and the affiliated Luxembourg entity ABF European Holdings & Co SNC by means of interest-free loans, avoiding tax of about £9.7 million per year.{{cite web|url=http://www.taxresearch.org.uk/Documents/abfeh.pdf |title=ABF European Holdings & Co SNC accounts 2008 |access-date=16 February 2013}}{{cite web|url=http://www.taxresearch.org.uk/Blog/2011/03/28/this-is-why-uk-uncut-picked-on-fortnums/ |title=Tax Research UK article |publisher=Taxresearch.org.uk |date=28 March 2011 |access-date=16 February 2013}} The protest took the form of a mass sit-in in Fortnum & Mason.Video: [http://liberalconspiracy.org/2011/03/27/watch-ukuncut-occupation-of-fortnum-mason-was-peaceful/ Occupation of Fortnum & Mason by UKuncut was peaceful] {{Webarchive|url=https://web.archive.org/web/20130120180934/http://liberalconspiracy.org/2011/03/27/watch-ukuncut-occupation-of-fortnum-mason-was-peaceful/ |date=20 January 2013 }}, by Sunny Hundal. 27 March 2011.

In 2013, the firm denied "illegal and immoral" tax evasion after it was accused by an international charity of moving its profits outside Zambia to reduce its tax bill. ActionAid said Zambia Sugar, a unit of AB Foods, had made profits of $123 million since 2007, but had paid "virtually no corporate tax" in Zambia.{{cite news

| url = http://uk.reuters.com/article/uk-abf-tax-idUKBRE91908C20130210

| title = AB Foods denies avoiding tax in Zambia Holiday

| work= Reuters

|first=Chris

|last=Vellacott

| date=10 February 2013

}}{{dead link|date=September 2024|bot=medic}}{{cbignore|bot=medic}}

In October 2013, the company denied being involved in unscrupulous uses of land, in an article containing reports of forced evictions by other companies.{{cite news

| url = https://www.independent.co.uk/environment/green-living/oxfam-accuses-coke-and-pepsi-of-taking-land-from-the-poor-8852161.html

| title = Oxfam accuses Coke and Pepsi of taking land from the poor

| work= The Independent

| first=Jamie

| last=Merrill

| date=2 October 2013

}}

In November 2024, George Weston, chief executive of ABF claimed that the recent UK Budget may lead it to invest more outside the UK over fears the High Street will bear the "weight of tax rises".{{Cite web |date=2024-11-05 |title=Primark considers investing outside UK due to Budget |url=https://www.bbc.co.uk/news/articles/cgqy3p78085o |access-date=2024-11-06 |website=BBC News |language=en-GB}}

Operations

= Brands =

File:Two slices of Kingsmill bread.jpg

File:Ryvita - Dark Rye 2.jpg]]

Allinson
Argo Corn Starch
Aladino Peanut Butter
Burgen
Blue Dragon
Capullo
Dorset Cereals
Dromedary cake mixes
Elephant Atta
Fleischmann's Yeast
High5{{cite web|url=https://www.bcms.com/gb/en-gb/deal/high5-acquired-associated-british-foods-plc|title=Associated British Foods plc has acquired the Leicester-based sports nutrition company H5 Ltd, trading as High5|work=www.bcms.com/gb/en-gb|access-date=14 November 2017}}
Jordans cereals
Lucky Boat Noodles
Karo corn syrup
Kingsford's Corn Starch (North America)
Kingsmill bread
Mazola corn oil
Ovaltine (except in the United States, where Nestlé owns the brand)
Patak's
Pride
Ryvita
Silver Spoon
Sunblest
Thai Lotus Pastes
Tolly Boy Rice
Twinings

= Subsidiaries =

AB Agri Ltd
AB Enzymes - an ABFI Company
AB Sugar
AB Mauri, bakery ingredients
Abitec Corporation - an ABFI Company
Abitec Ltd
ACH Food Companies (AC HUMKO from 1995 to 2000), an American subsidiary of Associated British Foods, previously part of Kraft Foods from 1952 to 1995.
ACH Food México{{cite web|url=http://www.achfood.com/mexico.cfm|title=ACH Food Companies - Mexico|work=achfood.com|access-date=15 March 2015|url-status=dead|archive-url=https://web.archive.org/web/20150317182631/http://www.achfood.com/mexico.cfm|archive-date=17 March 2015|df=dmy-all}}
Allied Bakeries - a division of ABF Grain Products Ltd
Allied Mills
British Sugar
Frontier Agriculture (50% joint venture with Cargill)
George Weston Foods
G Costa: sauces and specialty foods
Illovo Sugar
Zambia Sugar
OHLY - an ABFI Company
PGP International, Inc. - an ABFI Company
Primark – known as Penneys in the Republic of Ireland
SPI Pharma, Inc. - an ABFI Company
Stratas Foods LLC, a 50/50 joint venture between ABF's American subsidiary ACH and fellow American food corporation Archer Daniels Midland{{cite web|url= https://www.foodbusinessnews.net/articles/15610-heggen-takes-the-helm-at-stratas-foods |title=Heggen takes the helm at Stratas Foods |website=Food Business News |date=2020-03-13 |access-date=2020-06-15}}
Wander AG
Westmill Foods

Board of directors

Charles Sinclair, chairman.{{cite web|url=http://www.abf.co.uk/about_us/board_of_directors#|title=Associated British Foods plc - About us - Board and committees - Board of directors|work=abf.co.uk|access-date=15 March 2015}}
George G. Weston, chief executive officer.
John Bason, Finance Director.
Peter Smith, Independent non-executive director.
Michael Jay, Baron Jay of Ewelme, Independent non-executive director.
Timothy Clarke, Independent non-executive director.
Javier Ferrán, Independent non-executive director.
Emma Adamo, Independent non-executive director.

Controlling shareholder

54.5% of ABF is owned by Wittington Investments.{{cite web|url=http://www.abf.co.uk/uploads/abf-annual-report-2011.pdf |title=Annual Report 2011 |author=Associated British Foods |access-date=28 July 2012 |url-status=dead |archive-url=https://web.archive.org/web/20120406011851/http://www.abf.co.uk/uploads/abf-annual-report-2011.pdf |archive-date= 6 April 2012 }} 79.2% of the share capital of Wittington Investments is owned by the Garfield Weston Foundation, which is one of the UK's largest grant-making charitable trusts, and the remainder is owned by members of the Weston family. Wittington Investments also owns Fortnum & Mason and Heal & Son. George G. Weston 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.{{Cite web|url=http://www.intaward.org/trustees|title=Trustees {{!}} The Duke of Edinburgh's International Award|website=www.intaward.org|language=en|access-date=2018-02-19}}