Pet food manufacturer MPM has been sold by its investor parent company 3i Group.
MPM owns the Applaws, Reveal and Encore cat and dog brands and the company will be sold to Partners Group, one of the largest firms in the global private markets industry, acting on behalf of its clients.
Total gross proceeds to 3i are estimated to be around £400m, which represents a 3.2x multiple of invested capital when proceeds already received are included. Since 3i’s investment in December 2020, MPM’s sales and pre-tax profits have more than doubled, with international sales now representing around 80% of revenue. The company was certified as a B Corp in 2024.
MPM chief executive Julian Bambridge said: “3i has been an outstanding partner. Their support in expanding our international footprint, investing in innovation and elevating our brand has been instrumental in MPM’s success. We are proud of the global platform we have built together and are excited for the next chapter.”
The transaction is subject to regulatory approval and is expected to complete in the third quarter of the year.
