Primark to split from food business despite warning of Iran war impact

ABF, which owns Kingsmill, Twinings and Patak's, to demerge fashion chain to maximise shareholder returns

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Primark is to break free from its sister food company, which owns Twinings, Kingsmill and Patak's, next year despite warning that the conflict in the Middle East is likely to hit consumer spending.

The fashion chain's owner, Associated British Foods (ABF), confirmed the plan to split off Primark from the rest of the food group, first mooted last year. The fashion group operates 486 stores in 19 countries.