Private equity firm 3i Group has put the sale process of MPM Products on hold to assess the impact of U.S. President Donald Trump's tariffs, Bloomberg News reported, citing people familiar with the matter. 3i Group acquired a majority stake in MPM, a premium, all-natural pet food manufacturer based in the UK, from ECI Partners in November 2020.
According to reports, MPM, which owns pet food brands including Applaws, Reveal and Encore, sources its materials from Thailand and exports to more than 30 countries in Europe, Asia and North America, including the U.S. Under Trump's new trade policy, the U.S. imposed a 36% tariff on Thai exports last week.
A deal that could have valued MPM at about €500 million (US$635.75 million) is under deliberation by the private equity firm, which may revive the sale when market conditions improve, according to the report.
