Portfolio
  • mpm logo.jpg
    MPM
    UK / Private Equity

    Consumer

    Overview

    MPM is an international leader in branded, premium, natural pet food. The business owns leading pet food brands such as Applaws, Encore and Reveal and differentiates itself through its high quality, human-grade products, its natural, clean-label ingredients and its “cat first” proposition.

    MPM is a certified B-Corp and its loyal customer base places great importance on its sustainable sourcing and recyclable packaging. Headquartered in Manchester, UK, MPM has an established presence in the UK, EMEA and APAC with a fast-growing business in North America resulting in international sales now accounting for more than 70% of revenues.

    The market has proven resilient through economic downturns and Covid-19, with pet ownership increasing amongst a highly engaged and loyal community for whom pets are seen as family members.

    Highlights

    • The premium wet cat food market is large and is forecast to continue to grow at c.7% p.a.
    • MPM fits well with our desire to invest in strong mid-market businesses where we see significant headroom to accelerate international expansion
    • We invested £125m alongside management for a majority stake in this rapidly growing, resilient business
    • Strong relationships with key retailers across pet specialist, grocery and online channels
    “3i has a formidable track record in helping its companies to grow internationally, particularly in the US market. This will be especially key for MPM as we look to accelerate our expansion in North America. The 3i team also has significant brand expertise through a number of its consumer investments which will be of great benefit to MPM.” Julian Bambridge, CEO, MPM
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