LONDON: Princes Group, a leading international platform in the United Kingdom and European food and beverage sector, announces that it is considering an initial public offering (IPO).
The company is considering applying for admission of its ordinary shares to the equity shares (ESCC) category of the official list of the FCA and to trading on the Main Market of London Stock Exchange plc.
Princes Group Highlights:
· Princes Group is a leading international platform in the United Kingdom and European food and beverage sector that generated £2.1 billion pro-forma revenue in the year to 31 December 2024. Princes Group has leading positions in both branded and customer own brand products across its five business units: Foods; Fish; Italian; Oils; and Drinks.
· The Group’s branded product portfolio includes leading, recognised brands such as ‘Princes’, ‘Napolina’, ‘Branston’2, ‘Batchelors’2, ‘Flora’2, ‘Crisp ‘N Dry’, ‘Delverde’, ‘Naked Noodle’ and ‘Vier Diamanten’.
· Princes Group combines industrial expertise with long-standing supply partnerships and leadership in both own-label and branded segments to be a trusted partner of choice for a diverse range of blue-chip customers. The Group exports its products to more than 60 countries and has more than 8,000 customers globally across large food retailers, B2B partners and the foodservice industry.
· Princes Group’s integrated model supports customers across multiple categories through reliable delivery, quality assurance, and ongoing product development. This foundation enables expansion into new categories and geographies, supports leading market positions, and maintains long-term customer relationships.
· Headquartered in Liverpool, UK, Princes Group operates 23 production facilities across the United Kingdom, continental Europe and Mauritius. Significant capital expenditure has been invested into the Group’s production facilities, which has resulted in several of the Group’s facilities having significant spare capacity for growth without requiring further capital investment. The Group has a further 21 warehouses and distribution centres and three offices across the United Kingdom, Poland and the Netherlands, with approximately 7,800 employees3.
· Princes Group has grown historically through strategic investments and inorganic acquisitions, and was in July 2024 acquired by NewPrinces S.p.A. (previously Newlat Food S.p.A., listed on the Euronext STAR segment of the Milan Stock Exchange since 2019), Princes Group’s major shareholder (the “Major Shareholder”), a company which itself has a significant track record in acquiring companies and business divisions that operate in the food and beverage industry. The Group’s strategy includes considering further acquisitions where targets meet its acquisition criteria.
· The Group achieved pro forma revenues of £2.1 billion in the 12 months to 31 December 2024, generating pro forma adjusted EBITDA of £122.3 million at a margin of 6.0%. As a result of cost, commercial and operational synergies since its acquisition by the Major Shareholder, the Group has delivered pro forma adjusted EBITDA of £71.0 million at a margin of 7.4% in the 6 months to 30 June 2025, on pro forma revenues of £964.2 million.
Simon Harrison, CEO of Princes Group, said: “At Princes Group we combine a rich heritage dating back nearly 150 years with a dynamic entrepreneurial mindset to bring great-tasting products at great value to consumers in the UK, Europe and beyond. Our head office, located in Liverpool’s landmark Royal Liver Building, which we recently acquired, further symbolises not only our proud tradition but also our commitment to strategic expansion, innovation and a bold vision for the future.
Our position as a category champion is grounded in well-invested manufacturing, deep and long-standing relationships throughout our supply chain, and a highly skilled and motivated workforce. These strengths have established Princes as a trusted partner to our customers, driving sustained, profitable growth and a first choice for consumers.
Whilst we are renowned for our iconic Princes tuna, through a combination of organic growth and focused M&A, we have built an international £2 billion food and drink portfolio, leading across five complementary categories, food, fish, Italian, oils and drinks, with operations spanning seven countries.
Our portfolio includes some of the UK’s most loved and enduring brands such as Princes, Napolina, Branston, Batchelors and Crisp’N’Dry, alongside a strong presence in customer own brand that sets us apart in the market. Today, we are the largest supplier of edible oils in the UK, sell nearly a billion cans of food a year and have built the challenger brand in baked beans under the Branston brand. Supported by thousands of global customers, including major UK and EU retailers, and longstanding partnerships, Princes Group continues to strengthen its leadership in the food and drinks sector.
A listing on the London Stock Exchange is a natural next step in our journey. Beyond providing access to capital to execute our M&A ambitions, it will provide a platform to accelerate growth by expanding our product portfolio and expertise, extending our international reach, and attracting top talent as we continue building for the future.
As we enter this next chapter, I am excited to scale Princes Group into one of Europe’s most trusted and innovative food and drinks business.”
Angelo Mastrolia, Executive Chair of Princes Group, 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 & 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 M&A 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.”