Retail

Primark parent injects €210m into Penneys

Company filings show Associated British Food has pumped significant amounts of money into company that operates Penneys in recent months

Penneys: company behind fast-fashion chain reported turnover of €693.1 million from its Irish retail sales in 2022. Picture: Fergal Phillips

Associated British Foods, the company that owns Primark, has pumped more than €210 million into its Irish operation in recent months.

Documents filed with the Companies Registration Office (CRO) show that Primark Limited has received cash injections worth €210 million from investment funds associated with ABF in 2024.

The investments relate to the acquisition by ABF holding companies of capital held by group companies in Ireland, according to the documents. They do not appear to ...