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Consumer staples company Princes Group PLC on Friday said it intends to float on the Main Market of the London Stock Exchange. The Liverpool, England-based firm is positioning itself as an ‘international platform’ in the UK and European food and beverage market, and expects to be eligible for the FTSE UK indices immediately following admission. Princes reported £2.1 billion in pro forma revenue in 2024, and pro forma adjusted earnings before interest, tax, depreciation and amortisation of £122.3 million. Pro revenue was GBP 964.2 million in the first half of 2025, the firm added. The planned trading launch comes as the company pursues a ‘tangible’ mergers & acquisitions pipeline, and ‘reflects long-term confidence in business,’ Princes said. Back in July last year, Princes was acquired by Milan-listed NewPrinces Spa, previously Newlat Food Spa, though the UK remains its largest market. It has conditionally agreed to buy Symington’s Ltd, Newlat GmbH and Princes France SAS from NewPrinces, prior to going public. ‘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,’ said Princes Chair Angelo Mastrolia. The company’s operations currently span sourcing, manufacturing and distribution to retail, wholesale, foodservice and industrial customers. Princes said it has an employee headcount of about 7,800, with 23 operating factories, plus 21 warehouses, distribution sites and offices, with facilities having ‘significant spare capacity for growth without requiring further capital investment,’ according to Princes. Its portfolio includes Branston, Flora, Napolina and own-brand products. ‘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,’ said Chief Executive Simon Harrison. Besides capital access, Harrison said a public listing will enable the company ‘to accelerate growth by expanding our product portfolio and expertise, extending our international reach, and attracting top talent.’ Princes plans to list in the equity shares (Commercial Companies) category. It has appointed BNP Paribas London branch as its listing sponsor. Its joint coordinators and bookrunners are BNP Paribas, Rabobank, Peel Hunt and UniCredit Bank Milan Branch. Societe Generale also will be a joint bookrunner should the IPO proceed. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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