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”.