Garfield Weston Foundation

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The Garfield Weston Foundation is an English charitable trust, established in 1958 by the late Willard Garfield Weston and his wife Reta, with a donation of shares from the Canadian family company, George Weston Ltd.

FixMe: Combine Wittington Investments Ltd and this page.

ToDo: Using Charitable Foundations as Tax Avoidance schemes: link, link, link, link, link, DDG
ToDo: link, Garfield Weston FoundationPowerbase-graphic.svg, link, link

per the 2017 a/cs, page 28: The Foundation owns 79.2% of Wittington Investments Ltd which in turn holds 54.5% of Associated British Foods plc, 100% of Fortnum & Mason plc and 100% of Heal's plc.
Four of the Trustees, W Galen Weston, Guy H Weston, George G Weston and Catrina A Hobhouse are directors of Wittington Investments Ltd. Of these four, Guy H Weston and Kate Hobhouse received remuneration from Wittington Investments Limited. George G Weston is a director of Associated British Foods plc and received remuneration from the company in that capacity. Guy H Weston is a director of Heal's plc but does not receive remuneration from that company. Mrs Catrina A Hobhouse is a director of Fortnum & Mason plc and received remuneration from that company. Mrs Jana R Khayat resigned as a director of Fortnum & Mason plc in 2015 and received no remuneration from that company.

As of Apr.2017, the Trustees’ portfolio with Investec was valued at nearly £58.1m (2016: £49.9m) which equates to an annual return net of fees of 20%. (p.5)

The Unigestion portfolio was valued in Apr.2017 at £38.5 million (2016: £36.44 million) and performed well below both benchmarks. (p.6)

The capital value of the Savills’ Charities Property Fund has remained fairly static at £5.76 million (2016: £5.73 million). (p.6)

The Foundation is a member of the Foundations Forum and the Association of Charitable Foundations.

For more info, see ABF's annual a/cs, p.149 link Also see the George Weston Ltd group in Canada, and Selfridges & Co Ltd C'House - common key management personnel.

Articles

  • Mar.24.2019: Irish Rich List 2019: the Westons, Ireland’s richest family. Legal marijuana went on sale in stores owned by Dublin-born Galen Weston Jr, in Dec.2018 following legalisation of the drug in Canada. Medical marijuana is available online from Shoppers Drug Mart, part of the family-owned retail conglomerate, while its Dominion grocery chain in Newfoundland has a licence to sell recreational cannabis. Galen Jr chairs the North American branch of the empire founded in 1882 by his great-grandfather, Toronto baker George Weston. The family’s food and retailing interests now span the Americas, Europe, Australia, China and southern Africa, and include 200+ businesses as diverse as Ryvita, Silver Spoon, Twinings, Ovaltine, Primark and Selfridges. ... The family’s UK branch is led by Alannah and Galen Jr’s cousins George Weston, who runs Associated British Foods, and his brother Guy, who chairs the family holding company Wittington Investments. (more) The Times.