Pet food company MPM Products has secured a £10m funding package from HSBC.

The Macclesfield-based company said it planned to use the new capital to expand its footprint in the pet food market at home and overseas.

MPM Products achieved 56% growth in 2012, with total sales reaching more than £17m, and is expected to hit £24m by the end of 2013.

The £10m funding, which is part of HSBC's £5bn 'International SME Fund, will be used to fund a product development programme and geographical expansion and included trade finance facilities and invoice finance lines.

The MPM brands are already available in 33 markets across Europe, the US and Asia Pacific, including Australia.

MPM's finance director James Bracewell said: "This funding package will enable us to ramp up our growth strategy and ultimately allow us to achieve our mission – to feed as many dogs and cats as we can, wherever they are."

Jason Trigg, Manchester area commercial director at HSBC, added: "MPM Products is an extremely exciting company that has demonstrated significant growth potential over the last 12 months.

"With considerable demand for its natural pet food products, both here in the UK and internationally, we're confident the company will continue to go from strength-to-strength."

Pictured: Julian Bambridge, managing director at MPM Products