Princes acquires historic Royal Liver Building in £83m UK growth plan

Princes, one of the UK’s largest food and drink groups, has acquired Liverpool’s iconic Royal Liver Building for £60 million, in a landmark move that forms part of an £83 million real estate strategy to strengthen its national footprint and drive long-term growth.

With ten UK sites and nearly 3,000 employees, Princes is reinforcing its operational base and commitment to the UK food and drink sector. The Royal Liver Building acquisition is both a strategic and symbolic investment, reflecting Princes’ deep-rooted ties to Liverpool, where it was founded in 1880.

Since 2024, Princes has been part of the NewPrinces Group (formerly Newlat Food), majority owned by Italian entrepreneur Angelo Mastrolia. Princes will now fully own the Grade I-listed Royal Liver Building, its headquarters since 1982, which houses over 400 colleagues and serves as a multifunctional space for corporate and community engagement.

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.”

Princes plans to use the building not only as a corporate HQ but also as a collaborative venue for events and public engagement. All current tenants will remain in place, with no immediate changes to site operations.

Leeds investment

The company’s broader £83 million investment also includes the completed £23 million acquisition of the Symington’s Cross Green facility in Leeds, further integrating that brand into Princes’ UK manufacturing operations.

This dual-site investment reflects the company’s focus on operational resilience, supply chain integration and domestic production. Princes recently launched a campaign to champion food made in Britain, with many products soon to feature the UKM stamp, highlighting their contribution to the UK economy.

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.”

Alongside strengthening workplace stability and company heritage, the acquisition also eliminates rental costs, reinforcing Princes’ financial foundation and securing ownership of one of the UK’s most recognisable buildings.

These strategic acquisitions were supported by financing from HSBC UK. 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.”