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2h ago

Princes Confirms London IPO for Food Group on LSE Main Market

The offering will raise primary capital to fund acquisitions with New Princes Group retaining majority ownership.

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Overview

  • New Princes Group confirmed it will float the Princes food-and-drink business in London through a listing of new shares rather than selling existing stock.
  • Media reports put the prospective valuation at about £1.5bn, and advisers named include BNP Paribas and Peel Hunt, with Unicredit and Rabobank also involved.
  • Princes reported 2024 revenue of £2.1bn and EBITDA of £122.3m, with first-half 2025 revenue of about £964.2m and pre-tax profit of £37.8m.
  • The listed company will span five business units across 23 manufacturing sites and 21 warehouses, employing around 7,800 people in the UK, Europe and Mauritius.
  • Princes was acquired by Italy’s Newlat in 2024 and integrated into New Princes Group, which cites further M&A as a key pillar of its growth strategy.