Premium pet food company MPM nabs investment from ECI
Macclesfield-based business is looking to increase its share of the £50bn global pet food market and expects to generate £50m in revenue
Upmarket pet food brand MPM has secured investment from mid-market private equity firm ECI Partners in exchange for a majority stake in the company.
Based in Macclesfield, MPM specialises in natural pet foods for cats and dogs with its Applaws and Encore brands and expects to generate approximately £50m in global sales this year with revenues up 25% per annum.
The business says it has found success by focusing on the ‘humanisation’ of pets as pet owners increasing look for the “quality and health benefits” derived from the food they feed their pets.
It will use the funding, the amount of which is not being disclosed, to continue international expansion as it seeks to take a greater share of the £50bn global pet food industry.
In January, Startups.co.uk identified ‘posh pet food’ as one of the hottest business sectors of 2016.
MPM CEO, Julian Bambridge, said of the news: “We pride ourselves on developing high-quality and innovative products for cats and dogs.
“Our recipes, with high quality recognisable ingredients, reflect our passion in challenging the additive-filled products that some multinational brands offer to consumers. We are very excited about partnering with ECI as we embark on the next stage of our journey.”
Mark Keeley, partner at ECI, continued:
“As a growth focused investor we are always seeking out market leading, well run growth companies to partner with. Pet owners are increasingly concerned about the health and well-being of their cats and dogs and are looking for wholesome, natural, high-quality products. That’s why we believe MPM is very well placed for further growth.”