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LONDON - Princes Group plc, a major player in the UK and European food and beverage sector, announced Friday its intention to float on the Main Market of the London Stock Exchange.
The Liverpool-headquartered company, which generated £2.1 billion in pro-forma revenue for the year ending December 31, 2024, plans to publish a registration document as it considers an initial public offering (IPO).
Princes Group operates across five business units - Foods, Fish, Italian, Oils, and Drinks - with a portfolio that includes brands such as Princes, Napolina, Branston, Batchelors, Flora, and Crisp ’N Dry. The company exports to more than 60 countries and serves over 8,000 customers globally.
The group currently operates 23 production facilities across the UK, continental Europe and Mauritius, along with 21 warehouses and distribution centers. It employs approximately 7,800 people across its operations.
In the 12 months to December 31, 2024, the company reported pro-forma adjusted EBITDA of £122.3 million, representing a margin of 6.0%. For the first half of 2025, Princes Group delivered pro-forma adjusted EBITDA of £71.0 million on revenues of £964.2 million, improving its margin to 7.4%.
"A listing on the London Stock Exchange is a natural next step in our journey," said Simon Harrison, CEO of Princes Group, in the press release statement. "Beyond providing access to capital to execute our M&A ambitions, it will provide a platform to accelerate growth."
The company was acquired in July 2024 by NewPrinces S.p.A. (previously Newlat Food S.p.A.), which is listed on the Euronext STAR segment of the Milan Stock Exchange.
Angelo Mastrolia, Executive Chair of Princes Group, indicated the company plans to raise new capital rather than sell existing shares, with proceeds intended to fund growth strategies and potential acquisitions.
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