MPM
Acquired by
3I
MPM acquired by 3I
Target
MPM
Acquirer
3I
Context
3i Group agreed to invest approximately �125 million to acquire a majority stake in MPM alongside the existing management team. The transaction is built on a thesis of international expansion: 3i aims to use its global network and brand building expertise to accelerate MPM's growth in North America, a key strategic priority. The partnership also focuses on supporting product innovation and sustainability initiatives (such as recyclable packaging).
This transaction is part of the Retail & Consumer industry, which currently tracks an average EBITDA multiple of 10.9x since the beginning of 2026, 11.3% decrease compared to 2025. This data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
Headquartered in Manchester, MPM is a global leader in high-end, natural pet food, with a specific focus on the "Cat" segment. The company owns three major brands: Applaws, Reveal, and Encore. MPM differentiates itself through "human-grade" quality (using real cuts of meat/fish rather than derivatives) and "clean label" transparency. It is a certified B Corp.
Ent. Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with MPM
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 06/2025 | PARTNERS GROUP | MPM | UNITED KINGDOM | Pet Care | Partners Group has agreed to acquire a majority stake in MPM Products, the owner of premium cat food brands Applaws, Reveal, and Encore, from 3i Group. This acquisition marks the next phase of global expansion for the Manchester-based company. Under the previous four-year partnership with 3i, MPM successfully transformed from a UK-centric business into a true international player, with 80% of its sales now coming from overseas markets like the USA and APAC. The company also shifted its channel mix, securing shelf space in major food and drug retailers while accelerating its online presence. Partners Group intends to leverage this established "clean label" platform to further capitalize on the "pet humanization" mega-trend, likely focusing on deepening penetration in the North American market and continuing the brand's premiumization strategy. The deal also recognizes MPM's commitment to sustainability, highlighted by its recent B Corp recertification. |
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