Princes Tuna and Napolina firm plots London IPO

Tinned tuna and Napolina firm Princes Group has revealed plans to float on the stock exchange in a move expected to value it at a reported £1.5 billion in the latest boost for the London market.

The Liverpool-headquartered group, which is owned by Italian food firm Newlat, said a flotation would be the “next step” in its journey.

The almost 150-year-old firm is best known for its Princes Tuna and Napolina brands, but also owns Crisp N Dry and licenses brands such as Branston – having recently developed Branston baked beans – as well as Batchelors and Flora.

It sells nearly a billion cans of food each year and said it is the largest supplier of oils in the UK.

The move comes amid a bounce-back in London listings, with The Beauty Tech Group kicking off its £300 million flotation on Friday and small business lender Shawbrook reportedly preparing to unveil its IPO plans.

The London market has suffered a series of setbacks in recent years as major firms have defected to overseas rivals or been bought out.

Princes said it wants to raise money through a listing to help it expand its products and international footprint, with possible acquisitions on the horizon.

Angelo Mastrolia, executive chairman of Princes Group, said: “Our decision to pursue a listing in London marks a pivotal moment in the history of Princes Group.

“The UK is our largest market and the home of an experienced leadership team. This decision reflects our long-term confidence in the business, the strength of our management, and the scale of the opportunity ahead of us.

“We are actively pursuing a pipeline of tangible mergers and acquisition (M&A) opportunities that will unlock new geographies, categories and capabilities.”

The firm made £13.3 million in pre-tax profits last year on sales of £2.1 billion, but revealed it has already notched up a £37.8 million profit haul in the first six months of 2025.

Princes Group, which employs around 7,800 staff, has 23 factories across the UK, continental Europe and Mauritius, with a further 21 warehouses and distribution centres and three offices across Britain, Poland and the Netherlands.

Simon Harrison, chief executive of Princes Group, said: “A listing on the London Stock Exchange is a natural next step in our journey.

“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.”

The firm bought Liverpool’s landmark Liver Building for £60 million earlier this year.

It was already based at the site – where it has been a tenant since 1982 – but wanted to expand its corporate headquarters there as well as extend its use a venue for events.