Primark to offer home delivery as it prepares to split from owner ABF
Summary
Primark will start offering home delivery in Britain for the first time as it prepares to separate from its parent company, Associated British Foods (ABF). The company bought an automated facility to help with deliveries and expects to grow online sales. The separation could be completed by December 2027, creating two major companies.Key Facts
- Primark will launch home delivery in the UK, adding to its current click and collect service.
- The company bought an automated fulfilment center in Sheffield to support future deliveries.
- Primark avoided home delivery before because of the high costs compared to its low prices.
- Primark is preparing to separate (demerge) from ABF, its parent company, by December 2027.
- After the split, Primark could be valued at around £9 billion, and ABF’s food business at about £4 billion.
- In the recent quarter, Primark’s sales fell by 3%, with small growth in the UK and Ireland but drops in continental Europe.
- George Weston, ABF’s CEO, will lead the food business after the split, and Eoin Tonge will remain Primark’s CEO.
- Primark was founded in Dublin in 1969 and now has over 80,000 employees worldwide.
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