Quorn Foods To Sell Company for $830 Million
The alternative meat company agreed to sell to Philippines-based rival, Monde Nissin.
October 4, 2015
United Kingdom-based alternative meat company Quorn Foods recently agreed to sell its business to Monde Nissin—a non-vegetarian company that makes noodles, cookies, and baked goods—for £550 million, or $830 million. The Philippines-based buyer beat out France’s Danone and Ireland’s Kerry Group to aquire the meat-free business, which produces everything from burgers and nuggets to sausages and cutlets. Available in 16 countries, Quorn made a reported $227 million last year. “Quorn represents an important new leg in our offerings,” Monde Nissin CEO Henry Soesanto said. “We are excited by the growth potential of the global meat-alternatives market.” Earlier this year, Hain Celestial Group acquired European vegan company Mona Group, and WhiteWave Foods purchased Vega for $550 million. The Quorn deal is expected to close October 30.