Italian food-and-drinks group NewPrinces is reportedly planning to float its UK unit, Princes, in London come October.
NewPrinces CEO Angelo Mastrolia conveyed to the Italian daily Corriere della Sera that the company seeks a listing in the middle of the month.
“The stock market is a great opportunity. For us, listing has been strategic at every stage of our growth,” Mastrolia emphasized.
Last year, the then Newlat Food acquired the UK-based food-and-drinks supplier Princes from Japan’s Mitsubishi Corp. for £700m (approximately $893.6m).
Post-acquisition, the company rebranded as NewPrinces. If the Princes unit is successfully floated, it will be the third segment of the business to be listed, following NewPrinces itself and Italian dairy arm Centrale del Latte d’Italia.
Earlier this month, NewPrinces announced it will acquire Kraft Heinz’s Italian baby-food business. Under the deal, NewPrinces will invest €120m ($140m) in assets which include five brands: Plasmon, Nipiol, and Dieterba infant food, alongside the gluten-free brand Biaglut and low-protein products marketed under the Aproten brand.
In May, the company also acquired a Diageo drinks plant in Italy that had been slated for closure.
Mastrolia detailed to Corriere della Sera that NewPrinces is contemplating additional acquisitions.
“We are evaluating further deals as our strategy aims for €5bn in revenue by 2030, targeting a net profit of €100m,” he stated.
During the first quarter of 2025, NewPrinces reported revenues of €672.2m, a slight decline from the €699.9m achieved in the same period of 2024. EBIT was recorded at €28.9m, a significant rise from €5.9m the previous year. Additionally, NewPrinces achieved a first-quarter net profit of €13.5m, in contrast to a loss of €2.2m in the prior year.
In March, the then Newlat Food accounted for 2024 results that included figures from Princes as if the UK group had been integrated from the beginning of the year. This adjustment indicated combined consolidated revenues of €2.8bn.
Mastrolia confirmed that the Italian group had also purchased the Royal Liver Building in Liverpool, a property where Princes leases office space.
