Associated British Foods Plc

Overview

Date Founded

1934

Headquarters

10 Grosvenor Street, Weston Centre, London, W1K 4QY, GBR

Type of Company

Public

Employees (Worldwide)

138K

Industries

Food
Retail: Other
Agriculture & Mills
Beverages
Livestock & Animals

Company Description

Associated British Foods Plc engages in the business of manufacturing and trading of consumer goods. It operates through the following business segments: Grocery, Sugar, Agriculture, Ingredients and Retail. The Grocery segment produces beverages, sweeteners, vegetable oils, bread, baked goods, cereals, herbs and spices, and meat products. The Sugar segment processes and markets sugar beet and sugar cane. The Agriculture segment produces and distributes animal feeds. The Ingredients segment manufactures bakers' yeast, enzymes, lipids, yeast extracts, and bakery ingredients. The Retail segment sells clothes and accessories through the Primark and Penneys retail stores. The company was founded in November 1935 and is headquartered in London, the United Kingdom.

Website

http://abf.co.uk

In The News

GlobeNewswire

January 21, 2021

Global $2.55 Billion Feed Enzymes Market Outlook to 2027: Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and Recommendations

Business Wire

January 18, 2021

Insights on the Global Tea Market 2020-2024: COVID-19 Analysis, Drivers, Restraints, Opportunities, and Threats - Technavio

Business Wire

January 18, 2021

Insights on the Global Industrial Enzymes Market 2020-2024 | COVID-19 Analysis, Drivers, Restraints, Opportunities and Threats | Technavio

ENP Newswire

January 15, 2021

-Associated British Foods plc - Trading update

DirectorsTalk Interviews

January 14, 2021

Associated British Foods Primark sales down 30% on last year

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Executives & Employees

George Weston

Chief Executive Officer

John George Bason

Executive Director, Finance Director

Paul Lister

Company Secretary

Garth John Weston

Regional President & General Manager, AB Mauri China East Asia Pacific

Mark Prendergast

President, AB Mauri North America

Emma Susan Adamo

Director

Javier Ferrán

Director

Andrew Ramsay Macqueen

In-House Counsel

Richard Rankin

In-House Counsel

Colin Hately

Group Pensions Director

Board of Directors

Michael George Alexander McLintock

Special Adviser, Strategy & Distribution at Liontrust Investment Management Ltd.

Wolfhart Gunnar Hauser

Chief Executive Officer at Intertek Testing Services NA, Inc.

John George Bason

Executive Director, Finance Director at Associated British Foods Plc

Ruth Cairnie

Vice President at Shell Trading (US) Co.

Graham Denis Allan

Professional at Pizza Hut LLC

Richard Reid

Former Partner at KPMG LLP

Emma Susan Adamo

Director at Associated British Foods Plc

George Weston

Chief Executive Officer at Associated British Foods Plc

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Associated British Foods Plc

Owners & Shareholders

Details Hidden

Royal Bank of Canada (Channel Islands) Ltd.

RBC-CI follows a primarily multi-manager approach, and invests in funds managed within the parent group as well as in third-party funds, favoring top-tier managers. Their approach integrates base currency issues, asset allocation strategies, geographic focus and sector biases. The firm invests indirectly in a wide variety of asset classes including equity and debt, complemented with alternative investments including hedge funds and private equity.

Details Hidden

Majedie Asset Management Ltd.

MAM uses a fundamental research to rotate portfolios on the basis of valuations and expectations, upside versus downside scenario analysis and other fund-specific tests. Individual managers may have a value bias or prefer to hunt for growth, while macro is emphasized by degrees. They meet regularly with company management, engaging on governance issues where necessary. The firm’s investment team engages in rigorous and challenging debate throughout the day, scouring the investment universe for new angles and clues missed by the wider market. MAM’s investment process employs their proprietary systems, MajWiki and MajNumbers, seeking to identify stocks of undervalued companies for which a catalyst can be identified. Small company expertise is embedded in their products.

Details Hidden

USS Investment Management Ltd.

USS-IM is an active, long-term manager which utilizes a highly regulated investment approach aiming to generate above average returns at minimum risk by managing a diversified fund composed of UK and overseas equities, bonds, real estate and alternative assets. The firm's in-house team of portfolio manager/analysts is the preferred investment manager for the Scheme and external managers are accessed as well. Portfolios are diversified both geographically and by sector. They diversify across traditional and alternative assets and strategies aiming to maintain investment returns while mitigating risk. USS-IM invests in fixed-income to protect against economic and equity weakness and to stabilize assets versus liabilities. They also invest in emerging government/corporate bond markets when they believe they offer an attractive risk premium.

Recent Transactions

Details Hidden

Associated British Foods Plc, AB Agri Ltd. purchase Agriwebb Uk Ltd. from Agriwebb Pty. Ltd.

Details Hidden

Associated British Foods Plc, George Weston Foods Ltd. purchase Yumi's Quality Foods Pty. Ltd. from Anacacia Capital Pty Ltd.

Details Hidden

The Garfield Weston Foundation, AB Mauri (UK) Ltd. purchase Hovis Ltd. /Holgran & Fleming Howden Brands from Hovis Holdings Ltd.

Transaction Advisors

Accountant

KPMG LLP

Advised onACH Food Cos., Inc., Associated British Foods Plc purchase Unilever NV /19 Food Brands & Operations from Unilever NV

Investment Advisor

Rothschild Holding AG

Advised onAssociated British Foods Plc purchases Illovo Distributors (Pty) Ltd.

Legal Advisor

Allen & Overy LLP

Advised onAssociated British Foods Plc purchases Acetum SpA from Clessidra SGR SpA

Legal Advisor

Barbara Kusak

Advised onAssociated British Foods Plc, AB Neo purchase BODIT TACHOV s.r.o.

Legal Advisor

Brian Jebb

Advised onAssociated British Foods Plc, AB Mauri Food, Inc. purchase Specialty Blending Co. LLC from Flowers Foods, Inc.

Legal Advisor

Charles Smith

Advised onAssociated British Foods Plc purchases Illovo Distributors (Pty) Ltd.

Advisors & Consultants

Legal Advisor

Michael J. Aiello

Partner at Weil, Gotshal & Manges LLP

Legal Advisor

John Balsdon

Partner at Latham & Watkins LLP

Legal Advisor

Gregory Loss

Partner at Herbert Smith Freehills LLP

Clients

Walmart, Inc.

Walmart, Inc. engages in retail and wholesale business. The Company offers an assortment of merchandise and services at everyday low prices. It operates through the following business segments: Walmart U.S., Walmart International, and Sam's Club. The Walmart U.S. segment operates as a merchandiser of consumer products, operating under the Walmart, Wal-Mart, and Walmart Neighborhood Market brands, as well as walmart.com and other eCommerce brands. The Walmart International segment manages supercenters, supermarkets, hypermarkets, warehouse clubs, and cash & carry outside of the United States. The Sam's Club segment comprises membership-only warehouse clubs and samsclubs.com. The company was founded by Samuel Moore Walton and James Lawrence Walton in 1945 and is headquartered in Bentonville, AR.

J Sainsbury Plc

Sainsbury’s was founded in 1869 and today operates over 1,000 stores, including 440 convenience stores and employs around 150,000 colleagues. We put our customers at the heart of everything we do and have invested in our stores, our colleagues and our channels to deliver the best possible shopping experience. Our strong culture and values are part of our identity and integral to our success.

Sysco Corp.

Building customer relationships requires time, effort and sincerity. For Sysco, it began with a promise to assist foodservice operators in providing consumers with solutions for meals consumed away from home. Since the initial public offering in 1970, when sales were $115 million, Sysco has grown to $37 billion in sales for fiscal year 2010. Many solid customer relationships have been nurtured along the way, countless dining trends and meal alternatives have evolved, and today the decision to consume meals prepared away from home is as much necessity as choice. Since then, the industry it serves has expanded from $35 billion to more than $200 billion. Today, Sysco has sales and service relationships with approximately 400,000 customers and remains committed to helping them succeed in the foodservice industry and satisfy consumers' appetites. Operating from more than 180 locations throughout the United States, Canada and Ireland, Sysco's product lines are as diverse as the 45,000 employees who support its daily operations. They include not only the ingredients needed to prepare meals, but also numerous ancillary preparation and serving items. As a result, Sysco can make a difference in its customers' lives and the success of their businesses

Key Stats and Financials As of 2020

Market Capitalization

$23.9B

Total Enterprise Value

$22.3B

Earnings Per Share

$0.74

Revenue

$17.8B

EBITDAMargin

12.67%

Three Year Compounded Annual Growth Rate Of Revenue

-3.23%

Debt TEV

0.24x

TEVNet Income

38.42x

Enterprise Value EBITDAOperating

9.92x

Enterprise Value / Sales

1.26x

Total Equity

$12.1B

Total Debt

$5.26B

EBITDA

$2.25B

Net Profit

$582M

Investors

Details Hidden

Sheila Valerie Masters

Life Peer at United Kingdom House of Lords

Suppliers

Delta Galil Industries, Inc. Wholesale: Consumer Non-Durables/Sundries | Tel Aviv, Israel

Delta Galil Industries Ltd. engages in the manufacture and marketing of private label apparel products for men, women, and children. It operates through the following segments: Delta USA, Global Upper Market, Delta European Brands, Delta Israel, and Delta Premium Brands. The Delta USA Segment engages in the development, design, and marketing of intimate apparel, socks, and activewear. The Global Upper Market segment engages in the development, design, manufacture, and marketing of intimate apparel for men and women, socks, and activewear manufactured at the company’s factories and sold to retail chains and labels. The Delta European Brands segment engages in the development, design, manufacture, and marketing of branded intimate apparel. The Delta Israel segment engages in the development, design, and marketing of labeled women's and men's underwear, socks, and Activewear products, as well as children's wear under the brands Delta, Fix, and Puma. The Delta Premium Brands segment engages in the development, design, marketing, distribution, and sale of premium products under the brands 7 For All Mankind, Splendid, and Ella Moss. The company was founded by Dov Lautman and Eliezer Peleg in 1975 and is headquartered in Caesarea, Israel.

Klépierre SA Trusts & Funds | Paris, Fra

A leading player in retail real estate in Europe, Klépierre combines development, rental, property and asset management skills. Its portfolio is valued at 16.4 billion euros on December 31, 2012 and essentially comprises large shopping centers in 13 countries of Continental Europe. Klépierre holds a controlling stake in Steen & Strøm (56.1%), Scandinavia’s number one shopping center owner and manager. Klépierre’s largest shareholders are Simon Property Group (28.9%), world leader in the shopping center industry, and BNP Paribas (21.9%), the number one bank in the Euro zone. Klépierre is a French REIT (SIIC) listed on Euronext ParisTM and is included into the SBF 80, EPRA Euro Zone and GPR 250 indexes. Klépierre is also included in several ethical indexes - DJSI World, FTSE4Good, ASPI Euro Zone – and is a member of both Ethibel Excellence and Ethibel Pioneer investment registers. These distinctions mark the Group’s commitment to a voluntary sustainable development policy.

C-Store REIT Ltd. Real Estate Investment Trusts | London, United Kingdom

C-Store REIT Ltd. provides real estate and asset management services. It carries business as a property investment and asset management company, which invests in commercial property in the United Kingdom. The company was founded by David Alfred S. Lockhart and Allan Stevenson Robert Lockhart on September 1, 2008 and is headquartered in London, the United Kingdom.

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