Italy's Newlat Food to buy Britain's Princes for nearly $900 mln
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 27 2024
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Should l Buy ?
Source: reuters
- Italy's Newlat Food Acquires Princes: Newlat Food has agreed to purchase Princes for 700 million pounds to expand its product range with tinned fish and Napolina sauces.
- Creation of a "Unicorn" Company: The acquisition will make Newlat Food the first Milan-based billion-dollar startup in the food sector.
- Financial Details: Newlat plans to rebrand as New Princes, with an expected turnover of about 3 billion euros and consolidated equity exceeding 700 million euros.
- Deal Financing: Newlat will pay 650 million pounds in cash and 50 million pounds from share sales, supported by loans totaling 500 million euros.
- Future Plans: New Princes aims for a strong financial position by 2026, with plans for debt reduction and significant annual free cash flow.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
