PRINCES acquired by NEWPRINCES GROUP
Context
Newlat Food S.p.A. (now NewPrinces) has successfully finalized the acquisition of 100% of the share capital of Princes Limited from Mitsubishi Corporation. This transformative transaction fulfills Newlat's 20-year vision to evolve from a family-owned business into a major multinational player. The integration creates a new European food industry champion—renamed "New Princes Group"—with a combined workforce of approximately 8,800 employees and a diversified portfolio covering ten distinct product categories. Following the closing, a new Board of Directors was appointed to lead the combined entity, with ambitious strategic targets set for 2030, including significant expansion in revenue, profitability, and free cash flow generation.
PRINCES, which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the AgriFood sector (10.8x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
Headquartered in Liverpool, Princes Limited is one of the UK's largest food and drink groups. Established in 1880, it has grown into a major international grocery supplier, managing a vast portfolio of branded and customer-own brand products. Its key categories include canned fish, fruit, and meat, as well as edible oils and soft drinks. The company owns iconic heritage brands such as Princes, Napolina (the UK's #1 Italian cooking brand), Batchelors (peas), and Flora (sunflower oil). Before the transaction, it was a wholly-owned subsidiary of Mitsubishi Corporation.
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Historical Financials (EUR)
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REFERENCES
Valuation range: EV 500M - 1.5b EUR
Revenue range: 1b - 3b EUR
EBITDA range: 100M - 200M EUR
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Acquirer: newprinces group