Associated British Foods (ABF.L, ABF LN)
Associated British Foods (ABF) is best described as an international business with major interests in food manufacturing and fashion retailing. The business was incorporated in 1935 with an initial focus on the bakery segment. Over the past 70 years, the group has evolved into a business with operations in over 44 countries and sales of more than £12bn. ABF's major shareholder is Wittington Investments, which represents 54.5% of shares outstanding and is controlled by the Weston family. ABF comprises the following divisions: sugar, retail (Primark), grocery, ingredients and agriculture. From an investor standpoint, the three divisions that turn the needle on this stock are sugar, retail and grocery, which combined account for approximately 90% of EBIT.
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