Princes, one of the UK’s leading food and drink groups and since 2024 part of NewPrinces Group, formerly Newlat Food – the Italian company listed in Milan and majority owned by its founder Angelo Mastrolia – is delighted to announce the purchase of the historic Royal Liver Building (RLB) in Liverpool as part of a £60 million investment. This investment forms a key part of a broader £83 million real estate plan that also includes the Symington’s Cross Green facility in Leeds (£23m), underlining the Group’s long-term commitment to the UK.
These strategic acquisitions solidify Princes’ operational and financial foundations, ensuring long-term flexibility and supporting the company’s ambitious growth strategy to drive value and innovation across its portfolio. Similarly, the acquisition of Cross Green cements Leeds’ critical role in Princes’ UK operations, providing a stable base for Symington’s warehousing, and corporate operations.
The Royal Liver Building acquisition reinforces Princes’ 145 year heritage as a Liverpool-based company. The Grade-I listed building, where Princes has been a tenant since 1982 and over 400 colleagues are based, stands as one of Liverpool’s most recognisable landmarks, symbolising the city’s maritime and cultural significance for over a century. Princes traces its roots back to 1880 in Liverpool when ‘Simpson & Roberts & Co’ was established as an importer of canned food into the then thriving docks. In 1900 the business adopted the name Princes and the iconic brand has been a mainstay of British kitchens ever since.
Through these transactions, Princes is securing key assets that align with its long-term business strategy while demonstrating trust in its workforce and confidence in the UK market.
Simon Harrison, CEO of Princes, said: “These acquisitions reflect our commitment to operational excellence, sustainable growth, and creating value for all stakeholders. By securing ownership of these operationally critical sites, we are positioning Princes for long-term success.”
As one of the UK’s largest food manufacturing businesses, Princes operate 10 sites across the country and employs almost 3,000 people. The business recently announced a campaign to champion UK food manufacturing. Its range of products will soon receive a UKM stamp of approval, signifying products made in UK factories and the contribution made to local manufacturing and the UK economy. The company said these purchases of both sites is a further commitment to the UK and its unwavering ambition for a more prosperous future for the nation and the communities the business serves.
Stuart Tait, head of commercial banking at HSBC UK, said: “Supporting businesses that invest in the UK’s communities is at the heart of what we do. We are delighted to have provided financing to Princes to secure this historical landmark in the city it was founded in, as well as an operational facility in Leeds.”
The Group plans to expand its presence within the Royal Liver Building using it not only as a corporate headquarters but also as a multi-purpose venue for events, collaboration and public engagement. Princes has confirmed that all operations and tenant arrangements at the Royal Liver Building will remain unchanged with colleagues and partners assured of no immediate modifications to the site
Joe Dent, chief people officer, added: “The Royal Liver Building and Cross Green aren’t just buildings; they are spaces that support the hundreds of people who drive our business forward every day. By securing ownership, we’re delivering stability and unlocking opportunities for future growth, ensuring our colleagues have the right environment to thrive in the years to come. This is a significant moment in Princes ambitions.”
Strategic Vision and Investment
The acquisition is part of a wider real estate and operational investment strategy totalling over £80 million. These real estate investments fall into a broader strategy of long-term growth and diversification pursued by Princes parent company NewPrinces Group. In recent months, the Group has also announced two key acquisitions:
- The Santa Vittoria d’Alba site in Italy from Diageo, consolidating its presence in the alcoholic beverage and low/no alcohol segments;
- The Plasmon baby food brand and its Latina production site in Italy from Kraft Heinz, marking the return of a historic Italian name under national control.
These acquisitions will drive group revenue to €3.2 billion in 2025, marking solid progress toward the Group’s €5 billion revenue target by 2030.
Together with over £80 million in UK real estate investments, these moves reflect a clear ambition to build an integrated, resilient, and growth-oriented food & beverage group with strong local foundations and international scale, as the Group lays the groundwork for its future ambitious growth plan.
Angelo Mastrolia, chairman of NewPrinces Group, said: “With these acquisitions, we’re building on a shared legacy. The Royal Liver Building will not only serve as a symbol of our ambition but also as a strategic platform for expansion, innovation, and cultural engagement.”
