Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Is Associated British Foods cheap or boring?

By Chris Bailey of Financial Orbit

13 September 2021 11:55

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Associated British Foods (ABF) is a FTSE 100 name that is ‘a diversified international food, ingredients and retail group with sales of £13.9 billion, 133,000 employees and operations in 53 countries across Europe, Africa, the Americas, Asia and Australia’. It has been years and years since I last owned the shares and despite it being a very diversified business with Grocery (Twinings and Ovaltine), Sugar (UK beet sugar factories typically produce well over 1 million tonnes of sugar annually), Agriculture (animal feed, nutrition- and technology-based products and offers data services for the agri-food industry), Ingredients (yeast and bakery ingredients production) and Retail (hello Primark). And with regard to the shareholder base, don’t forget that ’54.5% of ABF is owned by Wittington Investments. 79.2% of the share capital of Wittington Investments is owned by the Garfield Weston Foundation, which is one of the UK’s largest grant-making charitable trusts’. Lots of history…and secure ownership makes a real difference.

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