Retail group Princes Group is to float on the London Stock Exchange.
The £2.1 billion revenue food and drinks firm includes the brands Princes, Napolina, Branston, Batchelors, Flora, Crisp ‘N Dry, Delverde, Naked Noodle and Vier Diamanten.
The Liverpool-headquartered 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.
It operates 23 production facilities across the UK, continental Europe and Mauritius. The firm says significant capital expenditure has been invested into its production facilities, which has resulted in several of them 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 UK, Poland and the Netherlands, with approximately 7,800 employees.
In July 2024 Prices Group was acquired by NewPrinces S.p.A. – listed on the Euronext STAR segment of the Milan Stock Exchange since 2019 – and its major shareholder.
For the 12 months to 31st December 2024, it generated sales of £2.1 billion and EBITDA of £122.3 million.
Executive chair Angelo Mastrolia 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.
“We are actively pursuing a pipeline of tangible M&A opportunities that will unlock new geographies, categories and capabilities.”
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