Philippines-based Monde Nissin is reportedly buying Quorn Foods for £550 million pounds (approximately US$ 831 million). The Stokesley, North Yorkshire, UK-headquartered acquisition is a frozen meat substitute products manufacturer with revenues of over £150 million last year.
Quorn Foods had been on the sales block for a relatively short period of time. Among a long list of suitors said to have shown interest in buying the company were McCain Foods, Pinnacle Foods, Inc., Nomad Foods, Nestlé SA, Hain Celestial Group, Danone, Kerry Group, Alpro (the owner WhiteWave Foods Company), Charoen Pokphand Foods (CP of Thailand, Wilmar International of Singapore and Pulmuone Co. of South Korea.
A unit of Marlow Foods Limited owned by Exponent Private Equity, Quorn Foods produces a wide variety of faux meat products made from mycoprotein, a plant-based meat substitute made from fermented fungi and sugar that is a good source of dietary fiber. Its expansive line runs the gamut from meat-free BBQ chicken bites and crispy fillets to Cumberland sausages, turkey- and beef-style burgers and fajita strips, to meat-free pork pies, lasagna, Thai red curry, pepperoni pizza, cottage pie, Indian vegetable samosas, toad in the hole meals for one, and man other prepared foods.
Headquartered in Santa Rosa, Laguna, Monde Nissin manufactures a range of food products including noodles, biscuits, crackers, wafers and waffles sold under the brand names Lucky Me!, Nissin, Voice Bingo, and Monde. It was founded in 1980 by Betty Ang, who is regarded as one of the richest persons in the Philippines. The company is not affiliated with Japan-based Nissin Foods.
“For Monde Nissin, the purchase of Quorn is its latest foray into the health food market,” according to a September 29 Reuters dispatch. “Asian buyers are increasingly investing in consumer-facing businesses in Europe. Last year Chinese private equity firm Hony Capital bought Britain’s Pizza Express chain for around £900 million.”
Quorn Foods recently extended its range with three new products, among them Meat Free Stew & Dumplings featuring vegetarian steak-style pieces and potatoes, parsnip and swede cooked in Dorset Ale. The calorie count per 100-gram serving is 108. Fat weighs in 3.6 grams, of which 1.9 grams are saturated.
The new Quorn Meat Free Pork and Mustard offering consists of faux pork-style fillets accentuated with Dijon mustard and cheese sauce. The calorie count per 100-gram serving is 104. Fat checks in 5.4 grams, of which 3.2 grams are saturated.
Quorn Meat Free Steak Diane is a classic American dish with a creamy mushroom sauce. It contains 4.2 grams of fat per 100-gram serving, of which 2.5 grams are saturated. The calorie count is 100.
