Food and drink company Princes announced the purchase of the historic Royal Liver Building (RLB) in Liverpool “as part of a £60 million investment” from Corestate Capital, former Everton owner Farhad Moshiri and a group of international investors.
Princes has been a tenant of the iconic building since 1982.
Since 2024, Princes has been part of NewPrinces Group, formerly Newlat Food – the Italian company listed in Milan and majority owned by its founder Angelo Mastrolia.
Luxembourg-based Corestate Capital acquired the Royal Liver Building for £48 million in 2017 from Royal London Mutual Insurance Society. The building had been on the market in 2022 for £90 million.
As one of the UK’s largest food manufacturing businesses, Princes operates 10 sites across the UK, employing almost 3,000 people.
“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,” said Princes.
“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 group’s 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.”
Princes CEO Simon Harrison 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.”
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.”
Joe Dent, Chief People Officer at Princes, said: “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.”