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Monde Nissin buys Quorn
8 Oct 2015Philippines-based food consumer goods company Monde Nissin has agreed to purchase Quorn Foods for £550m. The purchase is expected to be completed by October 30. Quorn is an international meat alternatives business, with around 620 employees in three UK sites, in Germany, and in the United States. Monde Nissin said that it is building a […]
Philippines-based food consumer goods company Monde Nissin has agreed to purchase Quorn Foods for £550m. The purchase is expected to be completed by October 30.
Quorn is an international meat alternatives business, with around 620 employees in three UK sites, in Germany, and in the United States.
Monde Nissin said that it is building a global branded food business, diversifying into categories that focus on health and sustainability, and believes that Quorn is a great fit for this strategy and complements its recent acquisition of Black Swan chilled dips and Nudie chilled juices in Australia.
“We have an ambition to be the world leader in meat alternatives,” said Quorn’s Chief Executive Kevin Brennan. “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 has been investing in on-trend, better-for-you products internationally, in-line with our strategy to become a global, diversified food company,” said Monde Nissin’s CEO Henry Soesanto. “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.”