Partners Group has agreed to acquire MPM Products, a global premium cat food business, from 3i in a deal that underscores growing private equity interest in the resilient and fast-growing pet sector.

Based in the UK, MPM operates leading brands such as Applaws, Reveal, and Encore, with a distribution footprint spanning over 50 countries. The company has established a strong market presence in North America and Europe, selling primarily through e-commerce and retail.

MPM focuses on premium wet cat food made with real meat and fish, clean-label ingredients, and products that visibly differentiate it from mass-market offerings. The segment is benefitting from strong tailwinds, including rising pet ownership, delayed family formation, and premiumisation trends.

Partners Group, which manages $78bn in private equity assets, intends to support MPM’s next phase of growth by expanding its presence in existing markets, entering new regions, and enhancing supply chain robustness.

“There is a significant growth opportunity in the premium cat food segment, which has historically been under-served by dog-focused incumbents,” said Thomas Clark, Managing Director, Private Equity Goods & Products at Partners Group.

Julian Bambridge, CEO of MPM, added: “We are excited to continue our strong growth under Partners Group’s ownership. Our goal is to enrich the lives of pets and owners through visibly better food.”

The transaction reflects Partners Group’s ongoing thematic focus on the ‘humanisation’ of pets and the long-term value creation potential of branded consumer goods businesses.

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