British private equity firm 3i Group Plc has put the sale process of pet food maker MPM on hold to assess the impact of US President Donald Trump‘s tariffs, Bloomberg News reported on Monday, citing people familiar with the matter.
MPM, which owns pet food brands like Applaws, Reveal, and Encore, sources its materials from Thailand, the report said.
The US imposed a 36% tariff on Thai exports last week, one of its highest reciprocal rates under President Donald Trump’s new trade policy that has escalated a global trade war.
A deal would have potentially valued MPM at about 500 million pounds ($635.75 million), according to the report.
The private equity firm is deliberating on it and could revive a sale when market conditions are favorable again, the report added.
3i Group declined to comment.
Reuters
