gamerevoland| Italy's Neurat Foods announced £ 700 million acquisition of British Prince Foods

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Italian food company Newlat Food announced on Monday that it will spend 700 million pounds (about 80%)gamerevolandUS$.92 million) to acquire Princes Food and Drinks in the UK.

Neurat said in a statement that after the transaction is completed, the group will change its name to New Princes, with a combined turnover of approximately 3 billion euros (approximately US$3.25 billion) and a combined share capital of more than 700 million euros.

Neurat Chairman Angelo Mastrolia said in a statementgamerevoland:"Neurat Foods will become the largest food company listed on the Milan Stock Exchange, consolidating its position as a major international player."

The company said it expects the net debt-to-core profit (EBITDA) ratio to be 1 by the end of 2026, and the average annual free cash flow between 2024 and 2028 will exceed 100 million euros.

gamerevoland| Italy's Neurat Foods announced £ 700 million acquisition of British Prince Foods

Neurat added that it will announce its comprehensive business plan for 2030 on June 4.

The company said in a statement that the deal is expected to be completed by the end of July and includes the sale of a £ 50 million stake in Neurat to Mitsubishi, which owns Princes.

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