Primark under fire as AB Foods weighs splitting Primark from its food empire; big questions about structure and profits for the Irish retailer. ABF owns Primark, fast-fashion giant.
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.
Retail crime, rising energy costs, and geopolitical tensions are impacting UK retailers. Despite efforts to control prices, companies report increased costs and uncertain profits. The government is responding with police recruitment and legislation to address retail crime, while energy and supply chain issues continue to challenge the sector.
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.