Quorn production increased to follow demand

Quorn production increased to follow demand

Quorn Foods will increase its production by 50 % as worldwide demand for its products had shot up a lot. The vegetarian item does exceptionally well in the United States and Europe.

Strong American growth

Over the past 6 months, American sales grew 30 %, while European sales went up 9 %. According to the company, Quorn is taking advantage of a trend that has people eating less meat and that has consumers on the lookout for an alternative.

 

That is why Quorn aims for a yearly turnover growth of more than 30 % in the United States. Turnover should have increased 3-fold by 2020 over there. To meet the demand, which is also increasing in Europe, the company invested 40 million euro in its Middlesbrough factory in England, in order to boost its production capabilities. 

 

No mention of possible acquisition

The company has also refrained from any comment about a possible Nomad Foods or McCain acquisition. Apparently, both companies have been eyeing Quorn Foods with Nomad Foods even planning a 700 million euro bid.

 

Its current owner, private equity firm Exponent, bought Quorn Foods in 2011, but is apparently willing to sell it again, although it may also bring the company to the stock market.

Questions or comments? Please feel free to contact the editors


Crocs loses patent battle

14/08/2017

Shoe manufacturer Crocs lost a patent court case revolving around the shoe’s design. According to the American Patent & Trademark Office (USPTO), another company had a similar design for much longer.

Coolcat's losses compound

14/08/2017

Dutch fashion chain Coolcat, part of entrepreneur Roland Kahn’s group, has not managed to lower its losses in 2016. On the contrary: its losses grew more than 50 % compared to the year before.

Zalando's growth once again surpasses 20 %

10/08/2017

German Zalando has achieved its 20 % growth target for the second quarter, but just barely. It still forecasts a 20 to 25 % growth for its full fiscal year.

Gucci files lawsuit against Forever 21

09/08/2017

Fashion label Gucci has decided to file a lawsuit against fashion chain Forever 21 in the United States. The case revolves around several pieces of clothing, all with a blue-red-blue or green-red-green ribbon. 

Ralph Lauren outperforms expectations

08/08/2017

Fashion label Ralph Lauren’s first quarter was a very good one, as it beat both analysts’ turnover and profit forecasts. It is quite a turnaround for a company that suffered a huge loss only a year ago.

Difficult first quarter for New Look

08/08/2017

British fashion chain New Look had a disappointing quarter, with a 4 % turnover drop. Its adjusted EBITDA fared much worse, with a 35 % drop.

Back to top