Princes Group, a leading UK food and beverage company known for its tuna products and brands such as Napolina pasta and Crisp ’N Dry vegetable oil, is advancing plans to expand through acquisitions less than a year after its London stock market debut. The company announced it is in advanced discussions to acquire two businesses, with management expecting to complete at least one deal in the near term, although the identities of the target companies have not been disclosed.

Giuseppe Mastrolia, Princes’ interim chief executive, emphasized that mergers and acquisitions remain a key element of the company’s growth strategy. He highlighted Princes’ solid financial position, extensive manufacturing capabilities, and proven track record in integrating new businesses as strengths that position the group well to capitalize on consolidation opportunities within the European food and beverage sector.

Founded in Liverpool in 1880, Princes has a long heritage and retains its headquarters in the city’s Royal Liver Building, acquired by the group in recent years. Its portfolio includes both proprietary brands like Crosse & Blackwell and multiple licensed products, including Flora, Branston, and Batchelors. The group also owns Symington’s, which produces instant meals and sauces under brands such as Naked noodles and Chicken Tonight. Previously owned by Italian food company Newlat, Princes was valued at approximately £1.16 billion during its initial public offering (IPO) last October.

Since listing, Princes’ share price has declined by around 35 percent, impacted by factors such as deflationary pressures on raw materials—particularly tuna—and lower average selling prices. Early investor demand at IPO pricing was also subdued, positioning the stock toward the lower end of its target range. However, shares closed recently up 4.6 percent at 316 pence.

Financial results for the six months ending in June reflected robust earnings growth. Pre-tax profit rose 62 percent to £39.2 million, supported by a 7 percent increase in revenue to just under £1 billion. The company attributed this growth in part to recent acquisitions, including the addition of the Italian baby food manufacturer Plasmon and Princes’ French operations. Within its fish division, sales volumes increased, although gains were offset by lower raw tuna prices. The group also experienced inflationary cost pressures that mainly took effect from July, which it expects to contribute to further revenue growth in the coming months.

Princes continues to seek cost efficiencies, targeting £2 million in savings. Mastrolia noted that despite a challenging macroeconomic environment marked by inflation across key input costs, the company has maintained profitability through disciplined commercial management and operational focus. Industry broker Peel Hunt described Princes’ profit and cash performance as positive, underscoring the importance of completing forthcoming acquisitions to drive the company’s strategic objectives.