Princes Group set for £1.5 billion pound London listing in boost for city markets

Princes Group, best known for brands such as Branston baked beans and Napolina olive oil, has announced its intention to pursue a £1.5bn listing on the London Stock Exchange. The move is poised to provide a much-needed lift to the Capital’s subdued initial public offering market, which has struggled in recent years.

The food giant, dating back to 1880 when it traded as Simpson & Roberts, is now among Britain’s largest food manufacturers, employing 2,000 staff in the UK and 7,800 worldwide. Originally focused on tinned fish, Princes has since diversified into pasta, juices, oils, condiments and more. The company also owns household names such as Crisp N Dry and has an agreement with Mizkan to manufacture and sell Branston baked beans in the UK.

Simon Harrison, chief executive of Princes Group, described a London listing as a logical development, offering not only access to capital for mergers and acquisitions but also a platform for expanding the company’s product portfolio, talent pool and international reach. The group’s ambitions align with a broader strategy to accelerate growth and build on its long-established market presence.

The listing comes during one of the London Stock Exchange’s weakest years for IPOs in over three decades, as the city slid out of the world’s top 20 IPO destinations. Only $248 million has been raised in new listings so far this year, a stark contrast to the $51 billion peak seen in 2006. With nearly a billion cans of food sold annually, Princes brings renewed attention to the exchange at a crucial time.

On the same day as Princes announced its plans, Beauty Tech Group launched a £300 million flotation, and Fermi America initiated a rare dual listing in both London and the US. There are nascent signs that the IPO market could be stirring back to life, with these high-profile moves signalling growing investor confidence.

Financially, Princes Group reported £13.3 million in pre-tax profits last year on sales of £2.1 billion. Profits have surged further this year, with a £37.8 million haul already recorded in the first half of 2025. Angelo Mastrolia, executive chairman, emphasised the company’s long-term confidence in the business and the potential to unlock new geographies and product categories through M&A opportunities. With 23 factories spanning the UK, Europe and Mauritius and an extensive logistics network, Princes is well positioned for its next phase of growth.