Partners Group has acquired MPM Products, a global pet food business focused on premium wet cat food brands, including Applaws, Reveal, and Encore, from 3i.
MPM’s products are characterised by their focus on natural clean label ingredients and an innovative range. MPM sells its products in over 50 countries, with a strong position in markets across North America and Europe, maintaining sales channels across e-commerce and retail stores.
The cat food sector is benefitting from several thematic tailwinds, including delayed family formation leading to increased pet ownership, the premiumisation of products, and resilience due to the essential need of feeding pets.
The benefits of wet cat food, including higher moisture content, easier digestion, and enhanced palatability, is further driving the growth of premium products, which is where MPM’s sales are focused.
Partners Group will work with MPM’s experienced management team to accelerate the company’s future growth. Key value creation initiatives will focus on further expanding sales in MPM’s largest markets, building operations in new markets, and reinforcing supply chain resilience.
Partners Group’s Private Equity business has $78bn in assets under management globally. Partners Group was advised by Clifford Chance on the transaction.
