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FB Roundup: Rogers Communications, Associated British Foods, CK Infrastructure Holdings

November 15, 2021

Rogers Communications won’t challenge court ruling on family boardroom battle, Primark-owning Weston family plans overseas expansion, Li Ka-shing family bets on Bamford’s green hydrogen fund.

Rogers Communications won’t challenge court ruling on family boardroom battle

The Rogers family behind their eponymous $24 billion Canadian telecoms giant has been embroiled in a damaging public feud which could jeopardise a $26 billion merger with fellow family-controlled telecom company Shaw Communications.

FB Roundup: Hyundai, Bacardi, Associated British Foods

January 15, 2021

Chung family driving Hyundai make $2 billion on Apple tie-up reports, Bacardi raises the bar on post-Covid ‘mindful drinking’ trend, Associated British Foods stares at $1.4 billion sales loss but rules out Primark e-commerce.

Chung family driving Hyundai make $2 billion on Apple tie-up reports

The Chung family in control of Hyundai became almost $2 billion better off when South Korean media reported the automaker was in early talks of a partnership with Apple, Inc.

Share prices in Hyundai Motor Co soared by up to 25% in Seoul last week, which boosted the family fortunes of Euisun Chung (picture), 50, chairman, and his father, Mong-Koo, 82. Together they hold about 8% of stock in the group, but maintain influence through complex governance arrangements.

FB Roundup: Associated British Foods, Red Bull, JCB

December 6, 2020

Second UK lockdown cost Weston family’s Primark $579 million in sales, Red Bull energises Yoovidhya family of inventor with $257 million payout, Lord Bamford gives JCB staff an extra holiday to mark 75th anniversary.

Second lockdown costs Weston family’s Primark $579 million in sales

The Weston family-controlled food and retail giant Associated British Foods estimates it lost £430 million ($579 million) in sales while its high street fashion retailer Primark was closed during the latest coronavirus lockdown.

Family business roundup: ABF, BMW, MasTec, Marriott and Loews results

November 5, 2013

ABF see better-than-expected annual results despite reputation issues, BMW report a slight third-quarter dip, good news at MasTec and Marriott, while Loews has a difficult three months.

Associated British Food
ABF – the food, ingredients and retail group controlled by the Weston family – saw strong results for the fiscal year ended 14 September, with revenues up 9% to £13.3 billion compared to 2012.

Family business roundup: Results and acquisitions

July 18, 2013

Remy Cointreau saw sales drop after a long run of steady growth, while L'Oreal and ABF had steady growth. In North America Hubbard Radio acquired 10 stations but Quebecor closed 11 newspaper titles.

Remy Cointreau
Family-controlled French spirits group Remy Cointreau has seen its sales drop 2.3%, like-for-like, to €263.7 million in the three months ended June 30.

Family firms sign agreement to improve worker safety

May 14, 2013

A number of big family-controlled businesses have signed an agreement to improve fire and building safety in Bangladesh following the collapse of the Rana Plaza textile factory that killed more than 1000 workers.

Primark offers Bangladesh emergency aid

May 1, 2013

Primark, the British-based discount clothing chain, is offering compensation and emergency aid after a supplier’s factory in Bangladesh collapsed, claiming more than 400 lives.

The Rana Plaza, on the outskirts of the capital Dhaka, collapsed last week. The building's owner, Mohammed Sohel Rana, has been arrested amid allegations of negligence and illegal construction.

Family business roundup: Strong first-quarter results for ABF and Hermes; profits drop at Pick n Pay and Heineken

April 24, 2013

ABS and Hermes reported strong first-quarter results, bolstered by demand for luxury and budget garments. But South African Pick n Pay and German Heineken fared less well, with growth in profits falling.

Associated British Foods
Associated British Foods posted strong results for the first quarter of 2013, with revenue increasing 10% to £6.3 billion (€4.2 billion), compared with the same period last year, and operating profit rose 20% to £496 million.

UK family businesses growing rapidly, report

August 18, 2011

The ability to plan for long-term growth and an emphasis on stewardship is helping the UK’s biggest family businesses, such as Associated British Food, to achieve strong growth, despite the tough economic conditions, according to the Institute for Family Businesses.

New research released by the IFB, a lobby group promoting family businesses in the UK, shows that sales in the top 10 British family-run companies soared by 10.2% last year.

Family-owned mergers in rude health as Jordans joins ABF

June 3, 2008

Weston family-owned Associated British Foods is to merge UK cereal business W Jordan & Son with its own Ryvita brand.

ABF will hold a 62% interest in the new, combined business. The balance will be held by the existing shareholders of Jordans, which is owned by the Jordan family, and from whom ABF acquired a 20% shareholding last year. The Jordan family will remain fully involved in the business.