Princes Group is considering an initial public offering (IPO) to float on the main market of the London Stock Exchange.

The group, which owns brands including Branston, Flora and Crisp ‘N Dry, posted revenue of £2.1bn in the year to 31 December 2024.

It exports its products to more than 60 countries and has more than 8,000 customers globally across large food retailers, B2B partners and the foodservice industry.

The Liverpool-headquartered firm, which owns the Princes tinned tuna brand, said that it has grown historically through strategic investments and inorganic acquisitions.

It was acquired in July 2024 by NewPrinces, which was previously known as Newlat Food and listed a segment of the Milan Stock Exchange.

Executive chair at Princes Group, Angelo Mastrolia, said that its decision to pursue a London listing marks a "pivotal moment" in the group’s history.

He added: "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.

"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 and support the transformation of Princes into a truly diversified and multinational food & beverage group."

Head of markets at AJ Bell, Dan Coatsworth, said that the UK stock market has been starved of new blood in recent years and Princes’ listing has the potential to grab the market’s attention.

However, he stated that this may not be a great time to float ahead of the Chancellor’s Budget announcement next month.

He concluded: "Rachel Reeves’ November Budget has the potential to bring bad news for consumers and businesses if the tax system is tweaked to help fill a black hole in the public finances. Confidence levels could be knocked and spending curbed. Princes could be the victim of grocery product substitution, and that would be a terrible start to life as a UK listed entity.

"In the longer term there are reasons why certain people might still find the company attractive. Princes has a clear growth plan, which includes pushing harder on Italian food, expanding its oil range, diversifying its seafood offering, doing more in the drinks market, and entering new areas such as infant nutrition and free-from products.

"A company with energy and brand strength is exactly what the UK stock market needs. Princes now must deliver on its ambitions, otherwise it could be left sitting on the shelf as far as investors are concerned."

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