AB Foods plans to separate Primark from food business

ASSOCIATED BRITISH FOODS PLC has announced a strategic plan to demerge its fashion retail giant, Primark, from its core food operations. The company, based in the United Kingdom, believes that establishing Primark as a standalone entity with its own board and dedicated investor base will unlock greater value for shareholders. The remaining business will focus on its extensive grocery portfolio, which includes household brands such as Twinings, Ovaltine, and Ryvita.