UK private equity firm ECI Partners (ECI) has acquired a majority stake in premium pet food company, MPM. ECI has announced plans to help finance MPM’s continuing international expansion.
Macclesfield-based MPM produces high-quality, natural pet foods for cats and dogs. The company has been growing revenues by around 25 percent per annum over the last few years and is expected to generate circa £50 million in global sales this year.
MPM’s products serve the premium natural pet food niche, with its Applaws and Encore brands widely available in both grocery and specialist stores across the UK and internationally.
MPM sells its products in over 33 countries. Less than 40 percent of revenues are generated in the UK, with 17 percent derived from the EMEA region, and 12 percent from Australia and New Zealand. MPM is also growing strongly in the US pet food market. Online sales account for 20 percent of revenues.
The MPM management team, headed by CEO Julian Bambridge and CFO James Bracewell, will continue to lead the business, in partnership with ECI.