What’s happening with Princes Group’s London IPO? Key summary
- Princes Group is considering an IPO on the London Stock Exchange
- The company aims to raise new capital, not sell existing shares
- IPO proceeds will support M&A, global expansion and product growth
- Princes was acquired by NewPrinces S.p.A. in July last year
- Leadership sees the listing as a strategic step for future growth
European food and beverage giant, Princes Group, has announced it’s considering an initial public offering (IPO) on the London Stock Exchange.
In an announcement made early Friday morning, the owner of global brands including Olivio, Batchelors, Branston and Princes Tuna said the “decision to pursue a listing in London marks a pivotal moment in the history of Princes Group”.
The Liverpool-based company, which was acquired by NewPrinces S.p.A. in July last year, did not provide details on the number of shares it plans to offer in the IPO or how much it plans to raise.
“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,” said Princes Group Chair, Angelo Mastrolia, in a statement.
“A listing on the London Stock Exchange is a natural next step in our journey,” added Simon Harrison, CEO of Princes Group. “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.”
