MHP speeds pet food push after refinancing and Croatia investment

MHP is moving faster into pet food after refinancing its debt, using a new $450 million (€390 million) Eurobond due in 2029 and a later $100 million add-on to extend near-term maturities and free up capital for growth. In an interview with GlobalPETS published on May 5, 2026, MHP’s pet food chief said the Ukrainian agri-food group is accelerating a €40 million investment in a wet pet food plant in Croatia, with initial capacity of about 20,000 tonnes a year and a path to roughly 35,000 tonnes by 2028. The company says the site will produce both its own brands and private-label products, initially targeting Southeastern Europe, with wet cat food in pouches as the first priority. (globalpetindustry.com)

Why it matters: For veterinary professionals, this is another sign that large animal protein companies are treating pet nutrition as a higher-margin, strategically important category, not just an adjacent business. MHP’s model leans on vertical integration, using poultry by-products, grains, and feed capabilities already inside the group, which could strengthen supply resilience and expand private-label and branded options in parts of Europe. It also highlights how pet food manufacturing investment is continuing even as the business sits against a wartime Ukraine backdrop and tighter capital markets. (globalpetindustry.com)

What to watch: Watch for the commercial launch of MHP’s first pet food brand, the plant’s production ramp in Croatia through 2026, and whether the company broadens from wet cat food into dry food and snacks on the timeline it has outlined. (globalpetindustry.com)