Princes Group utilizes its nearly 150-year heritage and an entrepreneurial mindset to manage its international £2 billion portfolio

Food Giant Princes Challenges the Market: $1.82 Billion IPO Expected to Spark 'Wave of Confidence' in the City

UNITED KINGDOM
Tuesday, October 14, 2025, 11:00 (GMT + 9)

Princes, headquartered in Liverpool, is seeking to debut on the London Stock Exchange (LSE) to fund an aggressive strategy of acquisitions and global expansion, aiming to revive the struggling UK IPO market.

LONDON - The food and beverage giant Princes Group has injected a "healthy boost of confidence" into London's subdued Initial Public Offering (IPO) market by revealing plans to list on the main stock exchange. According to reports from The Grocer and the company's press release, the IPO could value the company at £1.5 billion (approximately US$1.82 billion), marking a significant milestone for the sector.

The strategy behind the listing is clear: raise new capital to fund a "significant wave of acquisitions" and accelerate its growth, transforming Princes into a "truly diversified and multinational food & beverage group."

A New Era Under Newlat and Foundation for Growth

The current Princes Group is the successor to the historic brand, which was acquired for £700 million (approximately US$850 million) in the summer of 2024 by the Italian company NewPrinces S.p.A. (formerly Newlat Food S.p.A.), the major shareholder with a "significant track record in acquiring companies" in the sector.

Princes Group boasts an "integrated model" operating 23 production facilities across the United Kingdom, continental Europe, and Mauritius, in addition to 21 warehouses and distribution centres and three offices in the United Kingdom, Poland, and the Netherlands, employing approximately 7,800 employees. The company has invested significant capital expenditure in its plants, resulting in "significant spare capacity for growth without requiring further capital investment."

Angelo Mastrolia, Executive Chair of Princes Group, highlighted the decision's importance:

"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... 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."

Portfolio Power and M&A Focus

Princes has historically grown through strategic investments and inorganic acquisitions, a tactic set to accelerate post-IPO. CEO Simon Harrison underscored the group's strengths:

"At Princes Group we combine a rich heritage dating back nearly 150 years with a dynamic entrepreneurial mindset... We have built an international £2 billion (approximately US$2.43 billion) food and drink portfolio, leading across five complementary categories: food, fish, Italian, oils and drinks, with operations spanning seven countries."

The portfolio includes iconic brands such as Princes, Napolina, Branston, Batchelors, and Crisp 'N Dry. Additionally, Princes is the largest supplier of edible oils in the UK and sells nearly one billion cans of food a year.

• Private Label Strength: The company's appeal centres on its strong presence in customer own brand (private label), which generates approximately 70% of revenues.

• Financial Results: The Group achieved pro forma revenues of £2.1 billion (approximately US$2.55 billion) in the 12 months to December 31, 2024, generating pro forma adjusted EBITDA of £122.3 million (a 6.0% margin). Due to synergies post-acquisition, pro forma adjusted EBITDA in the 6 months to June 30, 2025, improved to £71.0 million (a 7.4% margin) on revenues of £964.2 million.

Mastrolia added that they are "actively pursuing a pipeline of tangible M&A opportunities that will unlock new geographies, categories, and capabilities."

A Vote of Confidence for the LSE

The potential Princes IPO comes at a critical time for the London Stock Exchange (LSE), which has recorded its weakest haul of IPOs in over 35 years. However, the announcement adds to renewed market momentum, coinciding with the confirmation of a £2.0 billion (approximately US$2.43 billion) IPO by lender Shawbrook Group.

Chris Stott, a partner at KPMG, and Clive Black, of Shore Capital, agreed that a successful IPO would create a "wave of confidence" in the sector. Dan Coatsworth, of AJ Bell, noted that a company with Princes' "energy and brand strength" is "exactly what the UK stock market needs."

Harrison concluded: "A listing on the London Stock Exchange is a natural next step in our journey... It will provide a platform to accelerate growth by expanding our product portfolio and expertise, extending our international reach, and attracting top talent."

[email protected]
www.seafood.media

Print