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).
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.