Princes Group plans to float on the London Stock Exchange (Alamy\/PA) <\/p>\n
Tinned tuna and Napolina firm Princes Group has revealed plans to float on the stock exchange in a move expected to value it at a reported \u00a31.5 billion in the latest boost for the London<\/a> market.<\/p>\n The Liverpool-headquartered group, which is owned by Italian<\/a> food firm Newlat, said a flotation would be the \u201cnext step\u201d in its journey.<\/p>\n The almost 150-year-old firm is best known for its Princes Tuna and Napolina brands, but also owns Crisp N Dry and licenses brands such as Branston \u2013 having recently developed Branston baked beans \u2013 as well as Batchelors and Flora.<\/p>\n It sells nearly a billion cans of food each year and said it is the largest supplier of oils in the UK.<\/p>\n The move comes amid a bounce-back in London listings, with The Beauty Tech Group kicking off its \u00a3300 million flotation on Friday.<\/p>\n The London market has suffered a series of setbacks in recent years as major firms have defected to overseas rivals or been bought out.<\/p>\n Princes said it wants to raise money through a listing to help it expand its products and international footprint, with possible acquisitions on the horizon.<\/p>\n Angelo Mastrolia, executive chairman of Princes Group, said: \u201cOur decision to pursue a listing in London marks a pivotal moment in the history of Princes Group.<\/p>\n \u201cThe 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.<\/p>\n \u201cWe are actively pursuing a pipeline of tangible mergers and acquisition (M&A) opportunities that will unlock new geographies, categories and capabilities.\u201d<\/p>\n The firm made \u00a313.3 million in pre-tax profits last year on sales of \u00a32.1 billion, but revealed it has already notched up a \u00a337.8 million profit haul in the first six months of 2025.<\/p>\n Princes Group, which employs around 7,800 staff, has 23 factories across the UK, continental Europe<\/a> and Mauritius, with a further 21 warehouses and distribution centres and three offices across Britain, Poland and the Netherlands.<\/p>\n