ABF pondering Primark sell-off

CONSUMER goods giant ABF is considering selling off fashion brand Primark as it undertakes a “comprehensive review” of the business.

- Amber MURRAY

ABF, which founded Primark - then known as Pennies - in Dublin in 1969, said “no decision” has been taken yet.

The strategic review will be carried out with the help of the advisory firm Rothschild & Co, with the backing of its largest shareholder, the Weston family’s Wittington Investments.

The FTSE 100 company said the family, which owns 59% of ABF, remained “committed to maintaining majority ownership of both businesses”.