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 Cross Green facility in Leeds (£23m), underlining the Group’s long-term commitment to the UK.
This significant milestone underscores Princes’ commitment to its Liverpool roots, ensuring a bold and confident step in its long-term growth plan.
The Grade-I listed Royal Liver Building stands as one of Liverpool’s most recognisable landmarks, symbolising the city’s maritime and cultural significance for over a century, representing resilience, pride and ambition – values that reflect the Groups ethos
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.
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
By securing ownership of this iconic building – where Princes has been a tenant since 1982 and over 400 colleagues are based – Princes reinforces its deep connection to the city and its dedication to creating a stable and sustainable operating base for the future. Princes has also completed the £23 million acquisition of the Symington’s Cross Green site in Leeds, further embedding the Symington’s business, which Princes manages and operates, into its UK operations
Simon Harrison, CEO of Princes, said: “Liverpool is an integral part of our heritage and future. Securing the Royal Liver Building reflects our commitment to this great city, our people, and sustainable success. The Royal Liver Building is an enduring symbol of Liverpool, and it’s an honour for Princes to call it our home.”
As one of the UK’s largest food manufacturing businesses, Princes operate 10 sites across the UK employing almost 3,000 people. The business recently announced a campaign to champion UK food manufacturing. Many of its 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.
The acquisition ensures several key benefits for the business and its stakeholders. By eliminating rental costs, Princes will strengthen its financial foundations, creating an asset that adds security to its future operations.
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.”
Additionally, the transition signals a strong commitment to the Liverpool workforce, ensuring long-term workplace stability and confidence during a time of strategic growth.
Joe Dent, Chief People Officer at Princes, added: “With the purchase of the Royal Liver Building, we are investing in the future of our teams in a place that they take great pride in. Being headquartered in such an iconic location will continue to inspire our colleagues and cement our deep and meaningful connection to Liverpool.”
Angelo Mastrolia, Chairman of NewPrinces Group, said: “With this acquisition, 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.”
This acquisition signifies more than just a real estate investment; it is a bold demonstration of trust in Princes’ future as a leader in the UK’s food and drink sector – a statement of pride for Liverpool and the communities Princes serves.
Marc Gorton, Head of International Banking, North and Midlands, added: “HSBC UK is pleased to support Princes’ acquisition of the historic Liver Building, demonstrating the business’ commitment to retaining strong roots in the city it was founded in. It’s great to see more businesses investing in the North West with Princes cementing its UK Head Office into this iconic building. We look forward to continuing to support the business with its future growth.”