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£10m funding boost for Pet Food Manufacturer

Pet food manufacturer MPM Products plans to develop a range of new products and launch in new markets after securing a £10m funding boost.

The Macclesfield company, which produces dog and cat food, has received the development capital from HSBC.

MPM achieved 56 per cent growth in 2012, with revenues reaching more than £17m and the company is on course to hit £24m in the current period.

Its products are already available in 33 countries across Europe, the USA and Asia Pacific.

It recently started trading in India and is hoping to launch in South America this year, both markets where it says the growth of middle class consumers presents an opportunity.

The funding package was provided by HSBC’s Manchester commercial team, led by senior international commercial manager Margaret MacDonald, and is structured to support MPM’s international growth.

MPM managing director Julian Bambridge said: “At the heart of MPM Products is an unwavering commitment and passion to produce natural pet food of the highest quality.

“We continually listen to our customers to ensure that our product development mirrors their needs.”
James Bracewell, financial director at MPM, added: “This funding package will enable us to ramp up our growth strategy and ultimately allow us to achieve our mission – to feed as many dogs and cats as we can, wherever they are.”

Jason Trigg, Manchester area commercial director at HSBC, said: “With considerable demand for its natural pet food products, both here in the UK and internationally, we’re confident the company will continue to go from strength-to-strength.”

MPM has two core product ranges, Applaws and Encore, which are available in UK supermarkets including Sainsbury’s, Tesco, Waitrose and Ocado.

Source: - 21 May 2013