Princes tinned tuna group set to float by end of October

Liverpool-based tinned tuna and Napolina firm Princes Group has confirmed it aims to list on the London market later this month with a reported £1.5 billion valuation.

The almost 150-year-old firm, which is owned by Italian food firm Newlat, said it is set to make its stock market debut by the end of October.

The group – which has headquarters in Liverpool’s landmark Liver Building – 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 marks the latest in a recent spate of UK listings as the London market rebounds.

The Beauty Tech Group kicked off its £300 million flotation last Friday and small business lender Shawbrook unveiled its initial public offering (IPO) plans earlier this week in what is set to be the year’s biggest float in the City.

It comes as a welcome bounce-back after the London market 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.

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

Angelo Mastrolia, executive chairman of Princes Group, said earlier this month: “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.

The firm bought the Liver Building in Liverpool 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 as a venue for events.