Princes Limited, a food and drink group owned by Italy’s NewPrinces SpA, has acquired Liverpool’s iconic Royal Liver Building in a £60 million deal. The purchase forms part of a broader £83 million property investment programme that also includes the acquisition of Symington’s site in Cross Green, Leeds.
The investment underscores the group’s long-term commitment to the UK and deepens Princes’ historic ties to Liverpool, where the company was founded in 1880. The deal is positioned as a strategic move to support growth, innovation, and local engagement.
The transaction has been financed through a £50 million long-term facility provided by HSBC UK. Stuart Tait, head of commercial banking at HSBC UK, reaffirmed the bank’s support for corporate investments that benefit local communities. In contrast, Marc Gorton, head of international banking for the North and Midlands, highlighted the importance of maintaining strong regional roots.
The acquisition is expected to have a neutral impact on Princes’ net debt to EBITDA ratio, supported by cost savings from terminating lease agreements and ongoing rental income from existing tenants. It also strengthens the group’s balance sheet through the addition of a high-quality asset.
A SYMBOLIC RETURN AND A STRATEGIC HUB
The Royal Liver Building, a Liverpool landmark for more than a century, will become a central operational hub for Princes. The group plans to expand its footprint in the building, using it not only as its corporate headquarters but also as a venue for events and stakeholder engagement. Existing lease agreements with current tenants will remain unchanged.
Angelo Mastrolia, chairman of NewPrinces, described the acquisition as “a strategic platform for expansion, innovation and cultural engagement.” Princes’ CEO Simon Harrison emphasised the group’s ongoing commitment to Liverpool, while Joe Dent, Chief People Officer, said the investment would inspire staff and reinforce the company’s regional roots.
UK FOOTPRINT AND INDUSTRY SUPPORT
Princes employs around 3,000 people across 10 UK production sites. As part of its broader strategy, the company has launched a campaign to support British food manufacturing. A number of its products will carry the UKM mark, certifying UK-based production and contribution to local supply chains.
The dual-site acquisition is intended to strengthen Princes’ UK operations while enhancing its visibility and long-term impact within the industry.
BROADER GROWTH AND DIVERSIFICATION
The Royal Liver Building acquisition follows a string of recent investments by parent company NewPrinces. These include the purchase of Diageo’s Santa Vittoria d’Alba site in Italy — bolstering its presence in alcoholic, low- and no-alcohol, and ready-to-drink (RTD) beverages — as well as the acquisition of baby food brand Plasmon and its Latina facility from Kraft Heinz, returning the heritage Italian brand to domestic ownership.
NewPrinces expects group revenues to reach €3.2 billion in 2025, with a long-term target of €5 billion by 2030. The acquisitions reflect the group’s ambition to build a resilient, growth-driven food business with strong local foundations and international scale.
