In November 2021, PCP provided a EUR 40m investment to the Monaghan Mushroom Group, to support its continued growth. PCP has been a strategic funding partner to Monaghan Mushrooms since 2018. As the business has grown and matured, we are now taking the next step in deepening our relationship.
Monaghan Mushrooms is an international horticulture group, vertically integrated throughout the whole mushroom production value chain. Today the company, headquartered in Ireland, has a ca. 50% market share of UK fresh mushrooms and is overall #1 in mushroom compost production globally. Monaghan has operations across Ireland, the United Kingdom, Belgium, Netherlands, Germany and North America.
Sustainability is core business for the company, from the manufacturing of the compost to the growing and packaging of high-grade mushroom produce. Monaghan is now also launching a plant-based product range with sausages, burgers, minced meat consisting of 85% mushrooms. With this investment, PCP are continuing our history of working with sustainable food sector companies.
As Paul Wilson, the Chief Executive Officer of Monaghan Mushrooms elaborates, “we have recently renewed our partnership with PCP, extending our originally 2018 agreement, for a further 5 to 7 years. Over the years we have developed a strong relationship with the PCP team and found them pragmatic and straight forward in our dealings. The latest funding agreement forms an important element of Monaghan’s longer term growth aspirations.”