NewPrinces, the former Newlat Food company owned by the Mastrolia family, continues its summer of acquisitions. Following Kraft Heinz's acquisition of Plasmon (see EFA News ) and Diageo's Santa Vittoria d'Alba (Cuneo) site (see EFA News ), the Italian company announces that its subsidiary Princes Limited, one of the UK's leading food and beverage groups and part of the NewPrinces Group since 2024, has completed a property acquisition with the purchase of its historic Royal Liver Building headquarters in Liverpool, part of a £60 million investment.

The transaction, the official press release explains, "is part of a broader real estate plan" worth a total of £83 million, which also includes the purchase of Symington's Cross Green site in Leeds for £23 million, "confirming the Group's long-term commitment to the UK." This important milestone, the statement adds, "strengthens Princes' connection to its Liverpool roots," representing a "bold and decisive step" in the company's long-term growth plan.

A Grade I listed building and one of the country's most iconic landmarks, the Royal Liver Building has been a symbol of Liverpool's identity for over a century. With its famous Liver Birds and historic maritime heritage, the building embodies values such as resilience, pride, and ambition, "the same values that guide the Group's philosophy."

The transaction is expected to be neutral on Princes' ND/EBITDA ratio, thanks to recurring annual savings resulting from the elimination of lease costs and rent contributions from current tenants. The transaction, the statement adds, was supported by HSBC UK, which provided Princes with a £50 million long-term financing facility.

This is, in effect, the press release emphasizes, a "homecoming for Princes," whose roots lie in Liverpool, where it was founded in 1880 as Simpson & Roberts & Co., a company specializing in the import of canned foods. In 1900, it adopted the name Princes and has since become an iconic brand and a benchmark in British kitchens.

The acquisition of the Royal Liver Building represents a symbolic return to its origins, but also a strategic move forward: the site will become a central operational hub, capable of supporting growth, innovation, and engagement with the local community for years to come. The group led by Angelo Mastrolia intends to expand its presence within the Royal Liver Building, using it not only as a corporate headquarters but also as a multipurpose venue for events, collaborations, and public engagement.

Princes has confirmed that all existing activities and agreements with the current tenants of the Royal Liver Building will remain unchanged, ensuring continuity and stability for colleagues and partners. By acquiring ownership of this iconic site, Princes strengthens its deep connection to the city and its commitment to creating a stable and sustainable operating base for the future.

In addition, the £23m acquisition of the Cross Green site in Leeds further strengthens Symington's business, managed and operated by Princes in the UK.

"With this acquisition, we are building a shared legacy," explains Angelo Mastrolia , Chairman of the Group. "The Royal Liver Building will not only be a symbol of our ambition, but also a strategic platform for expansion, innovation, and cultural engagement."

Simon Harrison , CEO of Princes, added: "Liverpool is an integral part of our heritage and our future. The acquisition of the Royal Liver Building reflects our commitment to this great city, our people and sustainable success. The Royal Liver Building is a timeless symbol of Liverpool and it is an honour for Princes to call it home."

Princes, one of the UK's leading food manufacturing groups, operates 10 production sites across the country and employs nearly 3,000 people. The company recently announced a campaign to support the British food industry: many of its products will soon carry the UKM mark, which certifies production in British factories and their contribution to the local economy and supply chain.

The purchase of the two sites will deliver several key benefits for Princes and its stakeholders including the elimination of lease costs and will strengthen Princes' financial structure, creating a strong balance sheet to support future operations.

The transaction, as mentioned, is part of a real estate and operational investment plan worth a total of £83 million. According to initial calculations, the acquisitions (including Santa Vittoria d'Alba and Plasmon) will bring the group's turnover to €3.2 billion in 2025, marking solid progress towards the target of €5 billion in turnover by 2030.