Branston baked beans maker cooks up £1.5bn London Stock Exchange float

Company Overview - Princes Group, owned by Italian food conglomerate Newlat, plans a £1.5 billion listing on the London Stock Exchange, marking a significant step in its growth journey [1][2] - Founded in 1880, Princes is one of the largest food manufacturers in Britain, employing around 2,000 staff in the UK and 7,800 globally [1][2] Product Range and Market Position - Originally a tinned fish company, Princes has diversified into various food and drink categories, including juices, preserves, pasta, oils, and condiments [2] - The company sells nearly a billion cans of food annually and has a strong presence in the UK market, which is its largest [3][5] Strategic Goals - The planned listing aims to provide access to capital for mergers and acquisitions (M&A), accelerate growth, expand the product portfolio, and enhance international reach [3] - The listing is seen as a natural progression for the company, with aspirations to attract top talent and build for the future [2][3] Industry Context - The announcement comes amid a decline in IPO activity in London, which has fallen out of the top 20 global locations for initial public offerings [4] - London has raised only $248 million (£184 million) for listings in 2025, the lowest in over 35 years, compared to a peak of $51 billion in 2006 [4] Recent Developments - The announcement coincides with other positive signs in the market, such as the Beauty Tech Group's £300 million flotation and Fermi America's dual listing in London and the US [4][5] - Princes operates 23 factories across the UK, continental Europe, and Mauritius, along with 21 warehouses and distribution centers [6]