Princes Group has officially announced plans for a stock market listing in London, with a registration document slated for submission later today, October 3rd.
Simon Harrison, the group’s CEO and part of Italy’s NewPrinces, emphasized that a “listing on the London Stock Exchange is a natural next step in our journey.”
In a recent stock exchange announcement, Harrison stated, “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.”
A source familiar with the proceedings, who preferred to remain anonymous, revealed that Princes Group aims to raise approximately €400 million ($469.4 million) through the IPO.
Last May, Newlat Food acquired Princes Group from Japan’s Mitsubishi Corp. for £700 million (equivalent to $893.6 million).
Subsequent to the acquisition, the company rebranded as NewPrinces and successfully completed its own listing alongside its Italian dairy arm, Centrale del Latte d’Italia.
Angelo Mastrolia, the executive chair of Princes Group and CEO of the parent company, highlighted today, “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.”
Mastrolia further emphasized, “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.”
He reiterated that Princes Group is “actively pursuing a pipeline of tangible M&A opportunities that will unlock new geographies.”
In July, NewPrinces announced its intent to acquire Carrefour’s stores in Italy, following a deal with Kraft Heinz for its baby food brands in Italy, which include Plasmon, Nipiol, Dieterba, Biaglut, and Aproten.
According to today’s filing, Princes Group generated pro forma revenues of £2.1 billion in the year ending December 31, with an adjusted EBITDA of £122.3 million.
For the first half of fiscal 2025, through June 30, pro forma revenue was £964.2 million, yielding a corresponding adjusted EBITDA of £71 million.
The company operates in both branded and private-label segments across five divisions, which include food, fish, Italian products, cooking oils, and drinks.
Notable brands under its umbrella include Princes, Napolina, Delverde, and Naked Noodle. With its headquarters located in Liverpool, Princes Group manages 23 production facilities across the UK, continental Europe, and Mauritius.
