Associated British Foods

About Associated British Foods

Associated British Foods (ABF) is a global company that makes and markets baked goods, grocery products, pharmaceutical ingredients, specialty oils, and animal feed. Its brands include Allinson, Tip Top, Karo, Argo, Kingsmill, Silver Spoon, Twinings, Fleischmanns Yeast, and ACH. ABF also owns the retail clothing chain Primark. The company operates in nearly 45 countries worldwide, with over 50% of its sales and about 45% of its operating profits generated outside the UK. Grocery operations provide a stable platform for pursuing growth in commodity markets like agriculture and sugar. Despite a difficult global economy, ABF has maintained strong performance, with earnings climbing more than 50% in 2010. The company has made several capital investments, including a new meat factory in Australia and the Vivergo Fuels Ltd. bioethanol plant. Sugar prices have also boosted recent earnings, with ABF's sugar business expanding significantly through the acquisition of Azucarera Ebro. ABF continues to invest in Primark, which has doubled its store count over the last 10 years and generates more than one-quarter of the company's sales. ABF was founded in 1935 by W. Garfield Weston, and his great-grandson CEO George Weston, along with the Weston family, own approximately 55% of ABF.