EchoWarning thinks not:
To prove some background, Fortnum & Mason is recognised internationally as a high-end retailer who stock everything from basic provisions to more exotic goods. Their store is a favourite of the ‘rich and famous’, as well as being a celebrated supplier of high quality tea. Fortnum & Mason is privately owned by Wittington Investments Ltd, who also have a majority stock holding in Associated British Foods, who in turn are responsible for some of Britain’s best known brands such as Ovaltine, Ryvita and Twinings, and in turn have subsidiaries such as Allied Mills, British Sugar plc and Primark. Still with me?
However, and this is where is gets slightly more interesting, Wittington Investments Ltd is itself majority owned by someone else, in this case the Garfield Weston Foundation. Originally formed by a Canadian business, W. Garfield Weston, this charity is the 14th largest charitable foundation in the world, with assets estimated to be in the region of £3.5 billion.
