The group, which was formed following the acquisition of Princes by Newlat in July 2024, intends to float on the London Stock Exchange.
The business floated in London will be known as Princes Group, with New Princes remaining the major shareholder.
Directors of the group are targeting further growth via mergers and acquisition, and a value of £1 billion to £1.5 billion. In the year to 31 December 2024, it generated £2.1 billion in pro-forma revenue.
Headquartered in Liverpool, Princes Group operates 23 production facilities and owns brands such as Princes, Napolina, Branston and Flora.
Commenting on the decision to launch the IPO, Princes Group CEO Simon Harrison said that the firm has been able to build a portfolio of brands that makes it well placed moving forward.
“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,” Harrison explained.
“Supported by thousands of global customers, including major UK and EU retailers, and longstanding partnerships, Princes Group continues to strengthen its leadership in the food and drinks sector.
“A listing on the London Stock Exchange is a natural next step in our journey. 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.”
Angelo Mastrolia, executive chair of Princes Group, added that the move marked 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,” said Mastrolia.
“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.”
Mastrolia then explained that the firm was “actively pursuing a pipeline of tangible M&A opportunities” in order to unlock new geographies, categories and capabilities.
“We believe Princes is exceptionally well-positioned to deliver sustained organic growth and long-term value creation for shareholders and we are ready to propel Princes Group into its next stages of growth,” he continued.
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