A Primark store in Montpellier, southern France

A Primark store in Montpellier, southern France

 GABRIEL BOUYS

Associated British Foods announced Tuesday that it would spin off its budget fashion chain Primark, splitting up one of the country's largest consumer businesses.

"A demerger of Primark is the best way to maximise long-term returns for shareholders, reflecting Primark's scale today and the need for a better understanding of the Food business," Michael McLintock, chair of ABF, said in a statement.

Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.

Tags

Recommended for you