Wed, 06 Nov 2013 | BUSINESS SALE
MPM Products, a pet food maker based in Macclesfield, has squashed rumours that the business might be for sale in the near future but suggested that the firm is still open to the idea if the right buyer was to come forward.
The company is keen to find fresh investment and has appointed advisers from the Manchester office of PwC to help it reach its target of achieving sales of £50 million within two years. However, initial suggestions that the company might consider a sale in order to gain a cash injection have been brushed off.
Managing director Julian Bambridge told the Manchester Evening News: “Like any medium-sized rapidly-growing business, securing funding is key to keeping our growth going.
“We wouldn't turn the right acquisition down but it is not part of our strategy right now. We are about growing our brands and we will continue to do that.”
He added that international expansion is playing a strong role in the company's growth, noting that the company has already opened offices in Australia and the US and now has plans to open a branch in Europe following strong sales.
The business has experienced rapid levels of growth across its markets recently. The managing director noted in a statement that compound growth has been “in excess of 70 per cent” during the past five years, something that should be helped by the recent bank funding that the business recently secured from HSBC, but will also be driven forward by future additional funding that PwC should help secure.
While a business sale is not currently on the cards, the company is certainly one to watch, especially considering that the management remains open to the possibilities presented by an acquisition.
Applaws and Encore are two of the company's most popular pet food brands.
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