A private equity group is looking to double its money on its investment in a Cheshire pet food business. According to reports over the weekend, ECI Partners has appointed advisers to find a buyer for MPM, and is seeking in the region of £100m.
This is double the price ECI paid for a majority stake in the Macclesfield business in March 2016. Rival bidders for the business included Belgium-based venture capital firm Verlinvest and Mayfair Equity Partners. Mark Keeley, partner at ECI in Manchester, said at the time: “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.”
MPM was set up by Roger Wood, Roger Coleman and Jon Kinsey in 2002 – they continued to hold a minority stake in the business after the buyout.
The business targets ‘discerning’ cat and dog owners. The founders were inspired by not wanting to feed their own pets additive-filled meats. MPM’s portfolio of products includes Applaws, Encore, Reveal, and Nature’s Calling.