Premium natural pet food company MPM has been sold by ECI Partners, with completion of the sale subject to regulatory clearance.
The Manchester-headquartered pet company sells dog and cat food under the Applaws, Encore and Reveal brands.
Its products are sold across 50 countries and the business has maintained strong growth this year, “proving to be highly resilient” since the initial impact of the pandemic.
ECI first invested in MPM in March 2016 to help support its international growth. Over 60% of MPM’s revenues are now international, with “strong” growth in both the US and APAC markets during ECI’s involvement.
MPM brands are “well positioned” across pet specialty, grocery and online channels, as demonstrated by its reported revenue growth, which has seen consistent growth of over 20% each year for the past five years.
According to ECI, the global pet food sector is now worth over £58bn and has grown every year since 2005, including during the financial crisis in 2008 and 2009.
Long-term growth drivers behind the industry include the rise in pet numbers, increasing interest in the premium segment and a growing focus on quality and sustainability.
Julian Bambridge, CEO of MPM, said: “It has been fantastic partnering with ECI over the last four years, to further strengthen our platform, internationalise our business and develop new product lines.
“We pride ourselves on our values of transparency, simplicity and responsibility, and look forward to bringing MPM’s high-quality, premium pet food to an even wider global audience during the next stage of our journey.”
Mark Keeley, partner at ECI Partners, comments, “We’re delighted to announce the sale of MPM. Julian and the team have done an exceptional job, successfully growing the business internationally, with MPM’s focus on quality really resonating with consumers globally.
“We believe MPM is well placed to continue its impressive growth and would like to thank the team for a successful partnership as we wish them all the best for the future.”