ECI has announced it will exit MPM to 3i Group, realising a return of 4.4x. MPM is an international, premium, natural pet food company.
Headquartered in Manchester, UK, MPM was founded in 2002 and owns leading brands such as Applaws, Encore and Reveal. It has an established presence in the UK, EMEA and APAC with a fast growing business in North America, with key retailers across pet specialist, grocery and online channels.
Rupert Howard, Director at 3i, said: “We have been tracking MPM for a long time and are delighted to invest in this rapidly growing, resilient business. Owners looking to feed their pets natural, high quality food with recognisable ingredients are drawn to MPM’s brands across a variety of channels and geographies. MPM fits well with 3i’s desire to invest in strong mid-market businesses where we see significant headroom for further international growth. We look forward to supporting Julian, James and their excellent team with their ambitions.”
Julian Bambridge, CEO of MPM, added: “3i has a formidable track record in helping its companies to grow internationally, particularly in the US market. This will be especially key for MPM as we look to accelerate our expansion in North America. The 3i team also has significant brand expertise through a number of its consumer investments which will be of great benefit to MPM.”
