Italian agro-food company Newlat Food has renewed its intention to acquire UK-based Princes Group from Mitsubishi Corporation in a transaction valued at £700 million. This move follows an earlier stalled negotiation and demonstrates Newlat’s strategic commitment to expanding its footprint in the European food industry. The acquisition, initially proposed in December 2023 and reexamined after a hiatus in February 2024, was previously contested with British buyout firm Epiris offering £400 million. The merger will create a new entity, New Princes Group, which aims for a projected revenue of approximately £2.8 billion and an adjusted EBITDA of around £190 million. The deal is contingent upon regulatory approvals and consultations with European and Dutch Works Councils.
Food & Beverage, Mergers & Acquisitions,Italy, United Kingdom, Europe
https://mergersacquisitions.einnews.com/article/715163748/E9ogVIZVDKdHeF5V?ref=rss&ecode=Q1vNcweEggLWKz7L