Food Giant Eyes £700m London Listing As Stock Market Reawakens

The London Stock Exchange could soon witness a resurgence in initial public offerings as New Princes, the Italian-owned food group behind household brands such as Princes Tuna, Crisp N Dry and Napolina, prepares for a major share listing. The business is in discussions with investors regarding an autumn float that would value it at a minimum of £700 million. This move coincides with several other prominent companies—among them specialist lender Shawbrook, The Beauty Tech Group, and online travel agency Loveholidays—reportedly exploring London IPOs in the coming months.

New Princes, which traces its origins to Simpson & Roberts in Liverpool in 1880, plans to separate its international food operations through the listing. The company, already listed in Milan following its acquisition of Princes from Mitsubishi for £700 million last year, also operates a dairy division trading on the Italian exchange. Advisers at Peel Hunt and BNP Paribas have been appointed to steer the process, aiming to open the IPO ‘window’ as market sentiment improves after several years of sluggish activity.

The IPO could mark the third publicly listed arm for New Princes as it seeks to establish a distinct identity for its food brands. The company’s impressive roster includes Olivio, Crosse & Blackwell, and products manufactured under licence for Flora, Branston, and Batchelors. The planned float follows New Princes’ recent purchase of the Royal Liver Building in Liverpool, underscoring its longstanding heritage and expansion strategy.

The revival of London’s IPO market is subject to broader market dynamics and investor appetite, as highlighted by figures such as Bidhi Bhoma of Panmure Liberum. Activity remains cautious, with some market participants focusing on building a strong pipeline for 2026. High-profile firms like Norwegian software business Visma and UK fintech Zilch are also attracting attention as potential major listings, the latter having recently narrowed its losses and increased revenue significantly.

Key stakeholders in the City and government are closely monitoring developments, buoyed by signs of improved sentiment and notable decisions, such as Glencore’s commitment to remain listed in London. Yet, volatility in global markets and ongoing investor deliberations continue to affect the path and timing of upcoming IPOs. Chancellor Rachel Reeves has established a listing taskforce to spur activity and address concerns from recent years of underperformance.

Market observers believe that the coming months will be decisive in determining whether the London Exchange regains its competitive edge for new listings. The outcome of these listing plans could significantly influence the direction of UK financial markets and the city’s standing as a global hub for capital raising.