The Liverpool-based food giant has been acquired by Italian group Newlat Food and the merged business is now called the New Princes Group (NPG)
08:44, 03 Oct 2025Updated 08:45, 03 Oct 2025
Princes’ Foods product range in 2024 with brands including Napolina pasta and tomatoes, Princes tinned fish and fruit, Jucee squashes, Branston beans, Flora and Olivio oils, and Crosse & Blackwell soups(Image: Patricia Niland)
Food giant Princes has unveiled plans to float on the London Stock Exchange in a move aimed at raising funds for further global acquisitions. The historic Liverpool firm was snapped up by Italian group Newlat Food last year with the merged entity rebranded as the New Princes Group (NPG).
NPG has now confirmed plans for an initial public offering (IPO) of its Princes Group division with shares to be listed on the Main Market of the London Stock Exchange.
The company stated the new issuance of Princes shares is “intended to raise primary proceeds to support Princes Group’s inorganic growth strategy through further acquisitions”. NPG will retain majority ownership of the listed company which will concentrate on food and drink manufacturing.
Based in the Royal Liver Building, Princes Group reported revenues of £2.1bn in 2024 and, in the first half of this year, generated revenues of approximately £964.2m, reports Business Live.
In 2024, it reported earnings before interest, taxes, depreciation, and amortisation (EBITDA) of £122.3m, with an EBITDA margin of 5.95%, and in the six months leading up to June 30 this year, it reported an EBITDA of £71.2m with an EBITDA margin of 5.95%.
The listed business would encompass five business units – Foods, Fish, Italian, Oils and Drinks – and would employ around 7,800 people globally. It operates 23 manufacturing sites across the UK, Europe and Mauritius, as well as 21 warehouses.
Alongside Princes-branded food and drink, the company also owns brands such as Napolina, Crisp ‘N Dry, Delverde, Naked Noodle and Vier Diamanten. It produces certain Branston, Batchelors and Flora items under licence.
Executive chairman of NPG Angelo Mastrolia said: “Our decision to pursue a listing in London marks a pivotal moment in the history of Princes Group. The UK is our largest market and the home of an experienced leadership team: this decision reflects our long-term confidence in the business, the strength of our management, and the scale of the opportunity ahead of us.
“As we did with the successful listing of Newlat Food in 2019, we are not selling any shares. Instead, we are raising new capital to accelerate our growth strategy and support the transformation of Princes into a truly diversified and multinational food and beverage group.
“Over the past year, we have demonstrated our ability to integrate and optimise at speed, already making strong progress towards the synergies we identified at the time of the acquisition. We see significant further upside from operational efficiencies, procurement optimisation and an integrated commercial platform.
“We are actively pursuing a pipeline of tangible MandA opportunities that will unlock new geographies, categories and capabilities.
“We believe Princes is exceptionally well-positioned to deliver sustained organic growth and long-term value creation for shareholders and we are ready to propel Princes Group into its next stages of growth”.
When the Newlat deal to acquire Princes from Japanese firm the Mitsubishi Corporation was revealed in 2024, Princes chief executive Simon Harrison said: “Today marks the start of an incredible new chapter in the 140-year history of Princes.”
He added: “With iconic brands, own label expertise and a large international manufacturing platform, Princes is set for a very bright future as part of New Princes Group.”