Share |

Associated British Foods

Family businesses contribute less to UK fortunes

April 23, 2013

Billionaire Russians, commodity dealers and property magnates are pushing family business owners out of the list of the richest individuals in the UK, according to an analysis of the annual Sunday Times Rich List.

Out of the top 100 wealthiest individuals in the list, 40 were either owners of a family business or their fortune was connected to such a business. That compares to 53 individuals in last year’s list.

Family business roundup: Profits up at H&M, historic fourth quarter for Ford, good results for Fiat

January 30, 2013

More financial results have come in for 2012, with the profits of family-controlled H&M, Fiat and Ford buffeted by Europe's continuing economic problems. Meanwhile, Associated British Foods – run by the Westons – had a strong start to 2013.

Family business roundup: German drugmaker and Canadian holding company see growth

September 14, 2012

The family behind Canada’s Empire Company has seen an increase in revenues for the first quarter of the fiscal year, while Germany’s Grunenthal has been buoyed by a huge rise in its half-yearly earnings.

Empire, the holding company controlled by the Sobey family, said on 13 September that sales for the three months ending 4 August rose by 9.7% to $4.56 billion (€3.5 billion).

This is not a Primark bag

April 26, 2012

From Salvatore Ferragamo to Prada and Hermes, many family businesses in the luxury industry have had to deal with counterfeit products. But this week seemed to be the turn of a discount fashion retailer.

Boasting two floors, a store in Dubai was found to be selling clothes and accessories identical to those sold by Primark, part of family-controlled Associated British Foods. The store even pretended to be part of the Weston family’s chain.

Family business roundup: Strong demand boosts European firms

April 24, 2012

Much of Europe might be experiencing austerity, but some family businesses are reporting strong growth.

A German family-owned pharmaceutical company, Boehringer Ingelheim, said on 24 April that revenues for 2011 rose by 6.2% to €13.2 billion.

Much of this growth was due to the sale of prescription medicines, which accounted for 77% of total turnover, said the Ingelheim-based group.

Majority of Wittington Investments’ dividend ‘to go to good causes’

August 15, 2011

The Weston family-controlled company Wittington Investments has paid out a £73 million (€82.7 million) dividend, with the majority expected to go to good causes.

A spokesman for Wittington, which is 79% owned by the family's Garfield Weston Foundation and 21% owned by members of the Weston family, confirmed that the company saw its revenues rise by 9.9 per cent to £10.3 billion in the year to September 2010.

UK's biggest family business reports strong results

September 13, 2010

Associated British Foods, the food and retail group owned by the Weston family, announced 13 September that trading for the second half had risen substantially and that it expected strong full-year results for the year ending 18 September.

M&A: Global M&A activity - an overview

September 1, 2007

Before the recent credit crunch, M&A activity was booming throughout the world. Families in Business compares and contrasts the Asian, European and US markets to ascertain what the impact has been on deals involving family businesses

Reports compiled by Rob Davies in Asia, Reg Crowder in Europe and Michael Fischer in the US.