FDBusiness.com

Quorn Foods Sold For £550 Million

 Breaking News
  • Diageo to Acquire British Distillery Spread the loveDiageo announces it has reached agreement to acquire Herefordshire-based Chase Distillery, the owner of Chase GB Gin and the award-winning Chase Original Potato Vodka. Founded in 2008 by...
  • Tate & Lyle to Expand Tapioca Production Spread the loveTate & Lyle, a leading global provider of food and beverage ingredients and solutions, is to acquire an 85% shareholding in Chaodee Modified Starch Co, a well-established tapioca...
  • Coca-Cola European Partners to acquire Coca-Cola Amatil Spread the loveCoca-Cola European Partners, the world’s largest Coke bottler based on revenue, has agreed to acquire Coca-Cola Amatil, one of the largest bottlers and distributors of ready-to-drink beverages and...
  • Treatt Partners With Siemens to Power Digitalisation at New Global Headquarters Spread the loveTreatt, an ingredients manufacturer and solutions provider to the global flavour, fragrance and consumer goods markets, has partnered with Siemens Digital Industries (DI) to build a world class...
  • Diageo Introduces ‘Guinness 0.0’ Spread the loveDiageo has launched Guinness 0.0, a new non-alcoholic beer from the brewers at St James’s Gate in Dublin that boasts the same beautifully smooth taste, perfectly balanced flavour...

Quorn Foods Sold For £550 Million

Quorn Foods Sold For £550 Million
October 02
14:31 2015
Spread the love

Monde Nissin Corporation, one of the leading food consumer goods companies in the Philippines, has agreed to purchase Quorn Foods from Exponent Private Equity and Intermediate Capital Group for £550 million. The purchase is expected to be completed by October 30. Quorn is an international meat alternatives business, with market leading position in 15 countries. It has around 620 employees in three UK sites, in Germany, and in the United States.

Monde Nissin is building a global branded food business, diversifying into categories that focus on health and sustainability. Quorn is a great fit for this strategy and complements its recent acquisition of Black Swan and Nudie, the leading brand of chilled dips and chilled juices in Australia, respectively.

Simon Davidson, partner at Exponent, says: “Under Exponent’s ownership, Quorn has been transformed into a fast-growing global health brand. Our partnership with the superb management team, led by Kevin Brennan, has created one of the UK’s fastest growing food brands as well as a rapidly growing international business.”

Quorn’s chief executive Kevin Brennan comments: “We have an ambition to be the world leader in meat alternatives. Monde Nissin’s purchase represents a great step forward in this ambition. They share our belief in the potential of Quorn, and provide capability to expand the brand into Asia.”

Monde Nissin’s chief executive Henry Soesanto says: “Monde Nissin has been investing in on-trend, better-for-you products internationally, in-line with our strategy to become a global, diversified food company. Quorn represents an important new leg in our offering. We are excited by the growth potential of the global meat alternatives market, which complements our strategy perfectly.”


Warning: count(): Parameter must be an array or an object that implements Countable in /home/fdbusiness/public_html/wp-content/themes/legatus-theme/includes/single/post-tags.php on line 5

About Author

mike

mike

Related Articles

Food & Drink Business Conference & Exhibition 2016

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements