Monde Nissin Corporation announces purchase of Quorn Foods

PHILIPPINES’ Monde Nissin Corporation will acquire Quorn Foods owned by the UK company Exponent Private Equity and Intermediate Capital Group. In a news article on its website, Monde Nissin said the purchase of Quorn for £550 million (USD832 million) will be completed by October 30.

With this new acquisition, Monde Nissin, a food consumer goods company that exports its own brand of instant noodles, cookies and other snacks, adds healthy options to its range of products. Quorn is a brand of ready meals made with meat alternative, mycoprotein.

The strategy allows Monde Nissin to expand its global reach, as well as to bring the Quorn brand into Asia. Quorn has markets in 15 countries, and has sites in UK, Germany and the United States with a total of 620 employees. 

In the same news article, Quorn’s Chief Executive Kevin Brennan is quoted as saying, "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 CEO Henry Soesanto said, "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." (Photo: Monde nissin logo by Source. Licensed under Fair use via Wikipedia)