British food company Quorn has increased its production capacity by 50pc to meet the increasing global demand for non-meat foods.
The company, which The Sunday Telegraph reported is at the centre of a £500m takeover battle between frozen food giants Nomad and McCain, said sales grew by 7pc in the past six months, as it increased its international presence to supply 16 countries around the world.
Sales in the lucrative US market grew by 30pc last year, after the firm increased its product lines in a number of major US retailers including Walmart.
“There is a growing trend towards meat reduction around the world and as more consumers turn to alternative sources of protein, Quorn has seen a growth in sales globally. The US market in particular is waking up to the opportunity beyond meat free burgers,” said Kevin Brennan, the company’s chief executive.
Quorn’s turnover rose by almost 7pc last year to £150.3m and the firm recently spent £30m upgrading its Billingham production plant near Middlesbrough. The company makes 22,000 tonnes of mycoprotein, the core ingredient of its meat-free products, each year at Billingham.
Mycoprotein, which is produced from fermented fungus and sugar, is used to fill Quorn’s meat-free mince, nuggets, burgers and sausages.
By Elizabeth Anderson
Source: The Telegraph
The facility is designed to foster innovation and deepen collaboration with customers, by offering a range of new services and solidifying its role as a central hub for customer support. Tereos’ team, supported by a network of 50 scientists, will ensure customers can innovate and meet the rising consumer demand for healthier and more sustainable products.
Glanbia has agreed to acquire Flavor Producers from Aroma Holding for an initial consideration of $300 million. Flavor Producers is a US-based flavour platform, providing flavours and extracts to the F&B industries, with a focus on organic and natural ingredients.
Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”
