Monde Nissin acquires Quorn | RetailDetail

Monde Nissin acquires Quorn

Monde Nissin acquires Quorn

Monde Nissin from the Philippines is mainly known for its instant noodle production, but it has now acquired the British meat substitute manufacturer Quorn Foods for 550 million pounds (750 million euro).

Diversification

Monde Nissin beat competitors like French Danone, Canadian McCain and Irish Kerry Group to the acquisition of Quorn. The company has been under control of the British investment groups Exponent Private Equity and Intermediate Capital Group and had a 150.3 million pound (200 million euro) turnover in 2014.

 

With the Quorn purchase, Monde Nissin aims to epand its product range and reduce its dependence on one market. It is not the first acquisition Monde Nissin made this year: earlier, it bought the Australian dip sauce brand Black Swan and juice brand Nudie. For next year, the company (currently owned by Betty Ang) intends to launch an IPO.

Questions or comments? Please feel free to contact the editors


Adidas wants to strengthen bond with small retailers

15/07/2018

German sportswear giant Adidas says it wants to strengthen its bond with small-scale retailers after they claimed Adidas is too aggressive in pushing its web shop, especially as they feel the brand is favouring large international chains as well.

Several candidates to take over Men at Work

12/07/2018

There are several takeover candidates for both the Dutch and the Belgian stores of the bankrupt clothing chain Men at work. The curator is confident an agreement should be reached today in Belgium.

Burberry sales increases thanks to new strategy

11/07/2018

The new strategy of the British fashion brand Burberry starts to render: the company had a 3% increase of revenue in their own stores last quarter. In total, Burberry has now a revenue of 479 million pounds (520 million euros).

FNG moves to Brussels stock exchange

06/07/2018

Belgian fashion group FNG has collected 60 million euros by issuing new shares. The new shares will be traded on the Amsterdam Stock Exchange and - for the first time - on the Brussels Stock Exchange as well.

Athleteshop ends its run

02/07/2018

Dutch sports web shop Athleteshop has filed for bankruptcy, after an abysmal year in which strings of complaints led to all sorts of problems. Social media and review sites were flooded with customers complaining about late deliveries.

Alibaba goes Turkish with stake in Trendyol

29/06/2018

Alibaba is the new strategic partner of Trendyol, one of the best-known e-commerce companies in Turkey. With this partnership, the Chinese retailgroup strengthens its presence in Europe.