Italian Newlat explores acquisition of UK food giant Princes
Source: The DairyNews
Newlat confirmed on Tuesday that it is in advanced discussions to acquire Princes, a British food group.
Reports suggest that Newlat, along with British buyout firm Expertise, is in competition for the purchase, with Japanese owner Mitsubishi Corp seeking a price of $400 million ($503 million).
Princes known for its tinned fruit and fish, holds various brands, including Flora sunflower oil and the Napolina range. The potential acquisition presents a strategic opportunity for Newlat, extending its reach into the UK market and creating value for stakeholders.
The Newlat Group operates in sectors including pasta, milk and dairy, instant noodles and bakery products.
Princes known for its tinned fruit and fish, holds various brands, including Flora sunflower oil and the Napolina range. The potential acquisition presents a strategic opportunity for Newlat, extending its reach into the UK market and creating value for stakeholders.
The Newlat Group operates in sectors including pasta, milk and dairy, instant noodles and bakery products.
