MPM Products was granted a Â£10 million (US$ 15.1 million) funding package from HSBC for significant expansion over the next two years.
The manufacturer of premium dog and cat foods intends to use the development capital to expand its footprint in the petfood markets in the UK and overseas. The funding package, part of HSBC’s Â£5 billion (US$7.5 billion) International SME Fund, will be used to fund a product development program and geographical expansion.
James Bracewell, MPM ’s financial director, said, “This funding package will enable us to ramp up our growth strategy and ultimately allow us to achieve our mission â€“ to feed as many dogs and cats as we can, wherever they are.”
Pet owners want a lot from their pet food brands. They want primary proteins that suit what they believe is best for their animal. They want grains or they don't. They want something customized, but it has to be easy to understand.
Constraints and crises, like those experienced in 2020, help drive innovation and sustainability offers context.