At what enterprise value was MPM acquired in 2025?

During the acquisition of MPM by PARTNERS GROUP in 2025, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b GBP. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Retail & Consumer industry currently tracks an average EBITDA multiple of 10.9x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of MPM when it was acquired by PARTNERS GROUP?

The exact EV/EBITDA multiple for MPM is available on mynth capital. For comparison, the Retail & Consumer sector currently shows an average EBITDA multiple of 10.9x. Join our community for free to access full valuation data and industry trends.

When was MPM acquired by PARTNERS GROUP?

MPM was acquired by PARTNERS GROUP in 2025.

What was the revenue of MPM at the time of the deal?

The revenue of MPM at the time of the deal is estimated to be in the range of 150M - 250M GBP. Register for free to access the full transaction report and exact valuation multiples.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the MPM acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the MPM deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.3i.com/media/news/2025/3i-announces-sale-of-mpm-to-partners-group-generating-gross-proceeds-of-c-400m-and-mm-of-32x/

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06/2025

MPM acquired by PARTNERS GROUP

UNITED KINGDOM Consumer Products / Pet Care EV 500M - 1.5b GBP

Context

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.

It is worth noting that the fund 3i took control of Mpm through an LBO in 2020.

MPM, which reported an EBITDA margin of in 2024, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Retail & Consumer sector (10.9x).

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Target

MPM Products (Making Pet Food Matters) is a leading international provider of premium, natural pet food, distinguished by its portfolio of highly recognized brands including Applaws, Reveal, and Encore. Headquartered in the UK, the company specializes in "clean label" wet and dry food for cats and dogs, utilizing high-quality, human-grade ingredients with no artificial additives. Its business model is built on a capital-light, outsourced manufacturing strategy combined with a sophisticated global distribution network that spans over 50 countries. The organization targets the "pet humanization" trend, catering to health-conscious pet owners through specialized retail channels, grocery multiples, and a rapidly growing e-commerce presence.

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Other operations with MPM

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
11/2020	3I	MPM	UNITED KINGDOM	Pet Care

REFERENCES

Valuation range: EV 500M - 1.5b GBP

Revenue range: 150M - 250M GBP

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of MPM by PARTNERS GROUP are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: mpm

Acquirer: partners group