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Princes Group has priced its initial public offering (IPO) at 475 pence per share, valuing the business at approximately £1.16 billion as it joins the main market of the London Stock Exchange (LSE).

Conditional trading began on 31 October 2025, with full admission expected on 5 November.

The move marks a major milestone for the 150-year-old food and drink company, best known for its ambient grocery brands across soft drinks, canned goods, cooking oils and meal solutions.

The IPO comprises 84.2 million new ordinary shares, raising £400 million in gross proceeds to fund growth and acquisitions. The offering also incorprated a retail tranche, through which UK investors subscribed for about 2.9 million shares, raising around £14 million. If the over-allotment option is fully exercised, the total offer size could reach £420 million.

NewPrinces, the company’s majority shareholder, invested £200 million in the flotation, while Newlat Group – the family office of executive chair Angelo Mastrolia – added £54.7 million. Following admission, the expected free float will be around 13%.

Simon Harrison, CEO of Princes Group, said: “Today marks a defining moment in Princes Group’s journey as we proudly begin our chapter as a publicly listed company. Our listing on the London Stock Exchange reflects not only our heritage but also our ambition for future growth. We remain focused on expanding our international footprint, deepening category leadership and delivering long-term value for all stakeholders.”

Executive chair Angelo Mastrolia described the listing as the start of a “period of exciting growth and value creation,” highlighting a pipeline of potential acquisitions and a strategy to modernise and expand operations.

The IPO provides Princes with new capital to pursue acquisition-led expansion, complementing its portfolio of well-known brands including Princes, Napolina and Jucee. The company said it will continue to prioritise innovation, operational efficiency and sustainability as it accelerates growth in the UK and internationally.

Founded in 1880, Princes employs more than 7,000 people across manufacturing sites in the UK, continental Europe and Mauritius. Headquartered in Liverpool, the business joins a small but growing group of UK food and drink manufacturers turning to public markets to fund expansion – signalling renewed investor appetite for established FMCG brands with global potential.