Premium petfood maker MPM Products has appointed PricewaterhouseCoopers to advise on a sale.
The manufacturer of Applaws and Encore is looking for new owners to invest in the company and help sustain its high levels of growth. In the year to the end of 2012, it grew turnover by 56% to more than £17m.
“MPM Products has experienced rapid growth over the past five years. Compound growth has been in excess of 70% during this period and we have been recognised for that by appearing in The Times Fast Track 100 for the last three years,” said MPM Products MD Julian Bambridge. “We have recently secured additional bank funding with HSBC. However, to continue the rapid pace of expansion we need future additional investment and therefore we have appointed PwC to help us do that.”
This spring, the company secured a £10m cash injection from HSBC to help fund new product development and expansion overseas.
City sources told The Grocer that the company’s international potential was likely to help it attract widespread interest.
MPM Products already exports to 33 countries, and international accounts for more than half of the group’s turnover. This year, the company said it expected to generate sales of £7.5m through Australian supermarket chain Coles having increased its distribution with the retailer.
The company is co-owned by founders Roger Wood, Roger Coleman and Jon Kinsey.