From tinned lobster to a billion-pound food giant: the evolution of Princes Group

Science · Published 20 October 2026 · Updated 20 October 2026 Swipe more like this →

In short: Founded in 1880 as a modest partnership importing Canadian lobster, Princes Group has transformed into a global food manufacturing powerhouse. After decades of corporate shifts and ownership changes, the company recently solidified its status as a major public entity, operating across diverse categories ranging from canned fish to soft drinks.

The origins of Princes trace back to 1880, when William Muirhead Simpson and Frank Roberts established a partnership focused on importing tinned lobster from Canada. By 1915, their firm, Simpson Roberts, dominated the global lobster trade, managing one-third of the market. Following its incorporation in 1919, the business expanded its reach, eventually entering continental Europe in 1960. The latter half of the 20th century saw a series of ownership transitions, moving through acquisitions by J Bibby & Sons, the Buitoni group, and Nestlé, before being acquired by the Mitsubishi Corporation in 1989.

Under Mitsubishi’s ownership, the company significantly scaled its operations through strategic mergers and facility acquisitions, including the purchase of an advanced tomato processing plant in Foggia, Italy, in 2012. By 2013, it had become the largest supplier of tinned food in the United Kingdom. Despite facing financial headwinds in 2018 that led to factory closures, the company maintained a global workforce of 7,000 people by 2020. The business was eventually sold to the Italian firm Newlat Food S.p.A. in July 2024, a deal valued at £700 million.

Following the acquisition, the company rebranded as NewPrinces S.p.A. in April 2025. A major milestone occurred in October 2025, when the group debuted on the London Stock Exchange, achieving a market valuation of £1.2 billion. Today, the company operates 11 production sites across the UK, Europe, and Mauritius. Its headquarters remain in Liverpool’s historic Royal Liver Building, a landmark the company purchased outright in July 2025 for £60 million, signaling its long-term commitment to its historic base.

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