Headquartered in Stokesley, UK, Quorn Foods makes and markets Quorn, a meat alternative brand, and Cauldron, a tofu brand. The new company aims to create the world’s leading meat-alternative business. Quorn is already sold in 10 countries worldwide, including a rapidly growing business in the US.
Under Exponent’s ownership, the business will be led by senior grocery marketers. Kevin Brennan, former marketing director and general manager at Kellogg’s who joined Premier Foods last year to head the meat-free division, becomes CEO of the new business. He will be supported by Clive Sharpe as chairman. Sharpe, former CEO of Golden Wonder, has experience in running food businesses with private equity backing.
Simon Davidson of Exponent said: “We have invested in Quorn Foods because of the very prominent position of its brands within the UK market and its strong international growth potential. We’re backing the management team’s plans to grow the business in the UK and internationally via investment in advertising and new product development, as well as through capital expenditure and infrastructure improvements.”
In 2010, Quorn Foods had a turnover of £128.8m and an operating profit of £16.1m. The company has around 600 employees on three UK manufacturing sites: Stokesley in North Yorkshire, Belasis on Teesside and Methwold in Norfolk.
Source: Quorn Foods Ltd
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