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


Amazon prepares own sports clothing collection

17/10/2017

Amazon is allegedly planning its own collections of sports clothing, having contacted manufacturers working for chains like Gap and Uniqlo. These are currently only producing small numbers of clothing for testing purposes.

H&M invests in old clothing recycling

12/10/2017

Swedish H&M has acquired a minority stake in Re:newcell, which targets the recycling of old clothing in order to ensure a more sustainable fashion industry.

Uniqlo's profit more than doubled

12/10/2017

In the past fiscal year, Japanese Uniqlo more than doubled its profit on the back of a 4 % turnover increase. The fashion chain forecasts international sales to soon outgrow those of Japan.

Gucci also halts fur production

12/10/2017

Fashion brand Gucci will no longer use fur in its clothing and accessories, as CEO Marco Bizzarri promised during his Kering Award for sustainable fashion acceptance speech for the London College of Fashion.

Fashion platform About You launches in the Netherlands and Belgium

11/10/2017

German fashion web shop About You, the second largest online European fashion retailer, officially launched in Belgium and the Netherlands following an unofficial launch in the Netherlands some time ago.

Luxury group LVMH exceeds third quarter expectations

10/10/2017

French luxury group LVMH has surpassed turnover expectations in the first three months of its fiscal year. Louis Vuitton and Christian Dior’s parent company managed a 12 % like-for-like turnover growth, to 30.1 billion euro.

Back to top