Gordons advise on pet food deal
Tuesday 29th March 2016
Gordons has advised the management of pet food manufacturer MPM Products in connection with the sale of a majority stake to private equity firm ECI for around £50m.
The firm’s head of corporate, partner James Fawcett, worked with the senior management team at the Macclesfield-based company, which makes pet food brands Applaws and Encore, to secure the deal.
MPM Products is expected to have a turnover of £50m this year. The company’s revenues have been growing by around 25 per cent a year over the last few years as pet owners seek better quality, natural food for their dogs and cats. MPM Products has a strong and growing international business across 33 countries, with 60 per cent of its products sold overseas.
It was set up by Roger Wood, Roger Coleman and Jon Kinsey in 2002 and they will continue to hold a minority stake in the business. The MPM Products senior management team, headed by chief executive Julian Bambridge and chief financial officer James Bracewell, will still lead the business, in partnership with ECI.
MPM Products’ James Bracewell commented “We’ve worked with Gordons for a number of years and, as is always the case, the advice and support we received from James and his team throughout the deal process was practical, swift and direct.”
Gordons’ James Fawcett said: “MPM Products is a very well run business with a distinct premium proposition within the pet food market. This deal will enable further international expansion based on the excellence of the company’s product range and the strategic vision of Julian and James. We have every confidence that the business will continue to go from strength-to-strength.”