Tue, 08 Sep 2015 | BUSINESS SALE
The Quorn business is up for sale with a price tag of £500 million, with full information due to be released next week (14 September).
The company is owned by Exponent, who have brought in advisers to oversee the sale of the business with a number of private equity buyers already expressing interest, including Cinven, KKR and BC Partners.
Other operators within the food manufacturing business are also rumoured to have expressed an interest. WhiteWave, an American company and one of the world's largest producers of plant-based foods, are expected to keep an eye on developments, along with Nestle and the owner of Birdseye, Findus and McCain: Nomad Foods.
Quorn is a British success story. It was founded back in 1985 in North Yorkshire and managed to capitalise on health trends as consumers sought convenient alternatives to meat. It has more recently benefited from celebrity endorsement with Mo Farah working as brand ambassador; a move which could well have helped Quorn record a seven per cent increase in sales last year.
The plans for a sale come after the company announced back in March this year that it was planning a £40 million investment to drive its expansion and pursue its ambition to “transform Quorn into a $1 billion business, four to five times its current size”.
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