NewPrinces, formerly Newlat Food, announced that its subsidiary Princes Group has begun the process for a potential listing on the London Stock Exchange's Main Market. The move aims to clearly distinguish Princes' manufacturing operations from the rest of the group, which will continue to maintain an integrated profile in the fast-moving consumer goods sector.
According to Executive Chairman Angelo Mastrolia, the decision represents "a historic step for Princes Group," with the aim of strengthening its international visibility and consolidating its presence in the British market, considered central to its development strategies.
The IPO plan does not involve the sale of shares by NewPrinces, but aims to raise new capital to accelerate growth and support international expansion. Assets included in the listing scope include Symington's Limited, Newlat GmbH, and Princes France, in addition to current subsidiaries, including Princes Italia and Princes Tuna Mauritius.
Carrefour Italia and Centrale del Latte d'Italia will remain outside the scope of the group and will continue to be managed directly by the group. The possible transfer of other brands, such as Plasmon and Ready to Drink, to Princes Group is also under consideration.
On a pro forma basis, the IPO perimeter recorded revenues of £2,1 billion in 2024, with adjusted EBITDA exceeding £120 million. The operations comprise five business units—Foods, Fish, Italian, Oils, and Drinks—and a portfolio ranging from private labels to established brands such as Napolina, Branston, Flora, and Delverde.
With 23 manufacturing facilities and over 7.800 employees, Princes serves more than 8.000 clients in over 60 countries. The offering will be structured to allow for the stock's inclusion in the FTSE UK indices while retaining NewPrinces as the controlling shareholder.
The move reinforces the idea of a two-person group: on one hand, Princes, focused exclusively on food and beverage production; on the other, NewPrinces, with an integrated model encompassing logistics, distribution, and packaging.
