Princes was bought by Italy’s Newlat Food — recently renamed NewPrinces — from Japanese giant Mitsubishi just over a year ago. Floated as an separate company, with a market capitalisation of around £1.2bn, it will have roughly £400mn from its share sale to spend on acquisitions that it hopes will nearly double its revenue. Restless managers have identified five short-term and more than 25 long-term potential acquisitions.