Associated British Foods to spin off Primark

The break-up of the 65-year-old conglomerate aims to unlock shareholder value and allow Primark to pursue its own growth strategy.

ABF, which also owns brands like Twinings and Kingsmill, stated that the decision follows a comprehensive structural review.

Investors reacted sharply to the news, with shares falling as analysts questioned the timing amid global economic uncertainty.

The move will see the Weston family maintain significant stakes in both the retail and food businesses.