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

Regulatory information 
This transaction involved a recommendation of 3i Investments plc, advised by 3i Investments plc.