NewPrinces targets London IPO for UK unit Princes 

UK – Italian food-and-beverage group NewPrinces is preparing to list its UK subsidiary Princes on the London Stock Exchange this October.  

CEO Angelo Mastrolia confirmed the plans in an interview with Italian newspaper Corriere della Sera, indicating the listing could take place in the middle of the month. 

“The stock market is a great opportunity. For us, listing has been strategic at every stage of our growth,” Mastrolia was quoted as saying. 

NewPrinces, previously known as Newlat Food, acquired Princes from Japanese conglomerate Mitsubishi Corporation in May 2024 for £700m (then US$893.6m). Following the acquisition, Newlat rebranded as NewPrinces.  

Should the IPO proceed, Princes would become the third segment of the group to be listed, after NewPrinces and Italian dairy division Centrale del Latte d’Italia. 

Earlier this month, NewPrinces announced it would acquire Kraft Heinz’s Italian baby-food operations for €120m (US$140m).  

The deal includes five brands: Plasmon, Nipiol, Dieterba, Biaglut, and Aproten. In May, the company also purchased a Diageo beverage production site in Italy that had been slated for closure. 

NewPrinces is pursuing an aggressive growth strategy through acquisitions, with a goal of reaching €5bn in revenue and €100m in net profit by 2030. “We are evaluating further deals,” Mastrolia noted in the interview. 

For the first quarter of 2025, NewPrinces reported revenues of €672.2 million (US$788.5m), slightly down from €699.9 million (US$820.99m) in Q1 2024. However, EBIT rose to €28.9 million (US$33.9m) from €5.9 million (US$6.9M) year-on-year, while net profit reached €13.5m, compared to a €2.2m loss a year earlier. 

In March, NewPrinces published consolidated results for 2024, reflecting Princes’ hypothetical inclusion from the start of that year. On that basis, the combined group generated €2.8 billion (US$3.28B) in revenue. 

The company has also purchased the Royal Liver Building in Liverpool, where Princes previously leased office space.

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