Here's a link to the Data Protection Commissioner's website section about [broken link removed].
You are right, they are supposed to give you an opt-out. Not only that, they should have asked you in the first place if they could send you marketing information by text. And not only that, if you have not had a business relationship with them in the last 12 months best practice is that they should not still be maintaining your information.
Sadly it seems many many businesses are utterly clueless about this and are trawling their old records to find old mobile numbers to target in an attempt to re-generate business. In the last few months three different companies have targeted me in this way, it's really irritating.