Paul Hastings, Clifford Chance, and BonelliErede advised on Princes Group’s £1.16 Billion IPO on the London Stock Exchange.

Paul Hastings (Europe) is advising Princes Group, a leading international platform in the U.K. and European food and beverage sector, on its IPO on the London Stock Exchange’s Main Market, with a market capitalization of £1.16 billion. The offering, which comprises 84,210,526 new ordinary shares at an offer price of £4.75 and seeks to raise £400 million, is expected to close on Nov. 5, 2025, subject to customary closing conditions.

The IPO consists of an offering to certain institutional investors in the U.K. and elsewhere outside the U.S. in reliance on Regulation S, as well as to QIBs in the U.S. pursuant to Rule 144A under the U.S. Securities Act of 1933 and an offering to retail investors through RetailBook’s network of intermediaries in the U.K.

Securities and Capital Markets Partners Dan Hirschovits and Max Kirchner led the cross-border Paul Hastings team, which included Partner Suzanne Horne, Associates James Lansdown, Pierfrancesco Benedetti, Tommaso d’Andrea di Pescopagano, Macario Chung, Julian Schmitz, Abigail Hung and Matt Sharples and trainee Solicitor Piers Fleming.

Clifford Chance advised the underwriters, BNP Paribas, Peel Hunt LLP, Rabobank U.A., UniCredit Bank GMBH and Société Générale S.A., on the IPO and London ESCC listing of Princes Group plc.

The IPO raised gross proceeds of approximately £400 million (excluding any exercise of the over-allotment option), providing Princes Group with a market capitalisation of approximately £1,162 million when conditional dealings began on 31 October 2025. The ordinary shares of Princes Group were admitted to listing on the equity shares (commercial companies) category of the Official List of the FCA and to trading on the main market for listed securities of the London Stock Exchange plc earlier today.

Princes Group is a leading international platform in the UK and European food and beverage sector that generated £2.1 billion pro-forma revenue in 2024. Princes Group has leading positions in both branded and customer own brand products across its business units including leading and recognised brands such as ‘Princes’, ‘Napolina’, ‘Branston’, ‘Flora’, ‘Crisp ‘N Dry’ and ‘Naked Noodle’.

Headquartered in Liverpool, UK, Princes Group operates 23 production facilities across the United Kingdom, continental Europe and Mauritius. The group exports its products to more than 60 countries and has more than 8,000 customers globally across large food retailers, B2B partners and the foodservice industry.

The team was led by London Equity Capital Markets Partner Christopher Roe, and US Securities Partner Johannes Juette, with support from Senior Associates Anjaneya Das and Sannu Shreshtha, Associates Radhika Sharma and Trey Oxendine and trainee Solicitor Daniel McCurley.

BonelliErede is acting for the controlling shareholder NewPrinces, led by Partner Gianfranco Veneziano in Milan.