Wittington Investments
Encyclopedia
Wittington Investments Limited is an unquoted British investment company. It is 79.2% owned by the Garfield Weston Foundation
, which is one of the UK's largest grant-making trusts, and 20.8% owned by members of the Weston family
.
Wittington Investments owns 54.5% of Associated British Foods
, which is one of the largest food companies in the world, and is itself the parent company of Primark
, the largest discount clothing chain in the UK and Ireland. Wittington Investments also owns London department store Fortnum & Mason
and Heal's, a UK chain of homeware and furnishing department stores.
At 5 April 2008, the trustees of the Garfield Weston Foundation
valued their 79.2% stake in Wittington Investments at £3.62 billion.
On 26 March 2011 Wittington Investments was targeted by UK Uncut
during anti-cuts protests
for tax avoidance
by its subsidiary company Associated British Foods . The tax avoidance involved loans between ABF/Primark and their affiliate ABF European Holdings & Co SNC, a Luxembourg-based partnership. The protest took the form of a mass sit-in
in Fortnum & Mason
.
Garfield Weston Foundation
The Garfield Weston Foundation is a grant-giving charity, based in the United Kingdom.It was formed by Canadian businessman W. Garfield Weston , who during his lifetime contributed to numerous humanitarian causes both personally and through his companies. His philanthropic works continue through...
, which is one of the UK's largest grant-making trusts, and 20.8% owned by members of the Weston family
Weston family
The Weston family of Canada and the United Kingdom are prominent businesspeople with global interests in food and clothing businesses. The family operations began with the founding of a bakery in Toronto, Ontario by George Weston....
.
Wittington Investments owns 54.5% of Associated British Foods
Associated British Foods
Associated British Foods plc is a global food, ingredients and retail company headquartered in London, United Kingdom. Its ingredients division is the world's second largest producer of both sugar and baker's yeast and a major producer of other ingredients including emulsifiers, enzymes and lactose...
, which is one of the largest food companies in the world, and is itself the parent company of Primark
Primark
Primark is a clothing retailer, operating over 223 stores in Ireland , the United Kingdom, the Netherlands, Germany, Spain, Portugal and Belgium...
, the largest discount clothing chain in the UK and Ireland. Wittington Investments also owns London department store Fortnum & Mason
Fortnum & Mason
Fortnum & Mason, often shortened to just "Fortnum's" is a department store, situated in central London, with two other branches in Japan. Its headquarters is located at 181 Piccadilly, where it was established in 1707 by William Fortnum and Hugh Mason...
and Heal's, a UK chain of homeware and furnishing department stores.
At 5 April 2008, the trustees of the Garfield Weston Foundation
Garfield Weston Foundation
The Garfield Weston Foundation is a grant-giving charity, based in the United Kingdom.It was formed by Canadian businessman W. Garfield Weston , who during his lifetime contributed to numerous humanitarian causes both personally and through his companies. His philanthropic works continue through...
valued their 79.2% stake in Wittington Investments at £3.62 billion.
On 26 March 2011 Wittington Investments was targeted by UK Uncut
UK Uncut
UK Uncut is a United Kingdom-based protest group established in October 2010 to protest against tax avoidance in the UK and to raise awareness about cuts to public services. Various sources have described the group as left-wing in its political orientation...
during anti-cuts protests
2011 anti-cuts protest in London
The 2011 anti-cuts protest in London, also known as the March for the Alternative, was a demonstration held in central London on 26 March 2011...
for tax avoidance
Tax avoidance and tax evasion
Tax noncompliance describes a range of activities that are unfavorable to a state's tax system. These include tax avoidance, which refers to reducing taxes by legal means, and tax evasion which refers to the criminal non-payment of tax liabilities....
by its subsidiary company Associated British Foods . The tax avoidance involved loans between ABF/Primark and their affiliate ABF European Holdings & Co SNC, a Luxembourg-based partnership. The protest took the form of a mass sit-in
Sit-in
A sit-in or sit-down is a form of protest that involves occupying seats or sitting down on the floor of an establishment.-Process:In a sit-in, protesters remain until they are evicted, usually by force, or arrested, or until their requests have been met...
in Fortnum & Mason
Fortnum & Mason
Fortnum & Mason, often shortened to just "Fortnum's" is a department store, situated in central London, with two other branches in Japan. Its headquarters is located at 181 Piccadilly, where it was established in 1707 by William Fortnum and Hugh Mason...
.
External links
- report of the Garfield Weston Foundation - see page 15 for details of the ownership and assets of Wittington Investments Limited