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 [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, representing a discount to the average currently observed in the AgriFood sector (11.0x).
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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.
Ent. Value
€500M–1.5bn
Equity Value
[members only]
Multiples
EV / Revenue
below 1.5x
EV / EBITDA
5x–12x
EV / EBIT
[members only]
Historical Financials (EUR)
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| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 09/2024 | VALEO FOODS GROUP | I.D.C. HOLDING | SLOVAKIA | Food Products |
| 08/2024 | CINVEN | VITAMIN WELL | SWEDEN | Soft Drinks |
| 07/2024 | GRUPO MAYRIT INVERSIONES ALIMENTARIAS | PANIFICADORA POPULAR | SPAIN | Bakery / Pastry |
| 07/2024 | AUSNUTRIA DAIRY | AMALTHEA | NETHERLANDS | Dairy |
| 07/2024 | TOWERBROOK | IDAK FOOD GROUP | SWITZERLAND | Food Products |
| 07/2024 | EMMI GROUP | MADEMOISELLE DESSERTS | FRANCE | Bakery / Pastry |
| 06/2024 | IDILIA FOODS | GRUPO CACAOLAT | SPAIN | Soft Drinks |
| 04/2024 | GLANDIA NUTRITIONALS | FLAVOR PRODUCERS | UNITED STATES | Ingredients |
| 04/2024 | CAMPARI GROUP | COURVOISIER | FRANCE | Wines & Spirits |
| 04/2024 | BRIDOR | PANDRIKS | NETHERLANDS | Bakery / Pastry |
Other operations with NEWPRINCES GROUP
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 12/2025 | NEWPRINCES GROUP | PLASMON | ITALY | Food Products |
| 09/2025 | NEWPRINCES GROUP | DIAGEO OPERATIONS ITALY | ITALY | Contract Bottling & Packaging |
| 07/2025 | NEWPRINCES GROUP | CARREFOUR ITALIA | ITALY | General Grocery |
| 01/2023 | NEWPRINCES GROUP | EM FOODS | FRANCE | Food Products |
REFERENCES
Valuation range: EV €500M–1.5bn
Revenue range: €1–10bn
EBITDA range: €100–200M
EV/Revenue range: below 1.5x
EV/EBITDA range: 5x - 12x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of PRINCES by NEWPRINCES GROUP are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: newprinces group