ABF weighs splitting Primark from its food arm after solid results; Primark’s parent ABF eyes a potential spin-off, reshaping the group. ABF is a London-based British multinational, big in sugar, yeast, and grocery.
Unilever plans to merge its food division with McCormick in a $15.7 billion cash and equity deal, creating a global flavor powerhouse. The transaction, expected to close by mid-2027, will see Unilever's shareholders owning 55% of the new entity, marking a significant shift in its strategic focus.
ABF has announced plans to demerge Primark from its food operations by the end of 2027. The move aims to improve investor understanding and valuation of each business, amid challenging trading conditions and online competition. Both companies will join the FTSE 100, with Primark valued at around £9 billion.