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“Consumers’ shift to sustainable eating has led to a 20% increase in Quorn’s sales in the past two years, which resulted in double-digit growth and a record turnover of £141M” said Tim Finnigan, head of research and development at Quorn”
Food Manufacture, 2015
Quorn turnover £150 million
“Quorn ended 2014 with turnover of £150.3m, up £9m on the previous year. A £30m investment has seen a third fermenter built at its Billingham production plant where it makes around 22,000 tonnes of Mycoprotein per year, the core ingredient of Quorn products.
A global marketing push with a budget of £40m, including a TV advertising campaign starring Mo Farah and a push into Sweden and Germany, now sees Quorn exported to 16 international markets around the world.
Such is the demand for its high-in-protein, low-in-fat products in the US that the company wants to grow by 30% a year stateside with the aim of building an American operation three times its current size by 2020.
Kevin Brennan, CEO of Quorn Foods, said: 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”
Gazette Live, 2015
“Market researcher Nielsen ranks Quorn as Britain’s 35th biggest brand – overtaking family favourites such as Heinz tomato ketchup”
The Telegraph, 2014
“Quorn Foods has announced plans to create around 400 new jobs, as it invests £30m
to increase its production capacity at its Billingham site in Nelson Avenue. Production will increase by more than a third under the expansion”
Hartlepool Mail, 2015
“Quorn Foods: Meat-free food manufacturer up for sale in £500 million deal, following a 30% surge in US sales. It comes as the meat-free food manufacturer, prepares to increase production by 50% later this month. According to reports, the new owner of Birds Eye and Findus, Nomad Foods, is planning a takeover bid, but could face competition from Toronto based McCain Foods, the world’s largest producer of frozen chips”
“The meat substitute company Quorn Foods, advertised in the UK by Olympic Gold winner Mo Farrah, has been sold to Monde Nissin of the Philippines for £550m ($831m)”
BBC, 2015
Quorn exports to 19 countries
“Quorn CEO Kevin Brennan said “Vegan is an exciting area for us. We have worked for a long time to get really great vegan products.” Commenting on Quorn’s annual results, Brennan said the company had enjoyed strong growth off the back of its first forays into Germany in 2014, with like-for-like sales there up 49.5%. “We were testing the German market for a year and it has gone well enough to go for national distribution.”
“Germany could well be one of the top three or four markets in the world for us, after the US and UK, within five years. Meat-free is worth €130M (£97.4M) there and is growing at about 30%. We think it should continue to grow. There are 7.3M vegetarians there – the largest vegetarian market in Europe.” Exports now represent 19% of Quorn’s revenue and the firm currently supplies 15 countries.
The company saw continued global opportunities to boost sales in foodservice as well as retail channels. The business posted 10% UK like-for-like sales growth on January 22, with total global sales up 7%, to reach a record £150M, off the back of attracting 1.86M new customers. Brennan disclosed big plans to grow sales of Quorn to more than $1bn in the next 10 years”
Food Manufacture, 2015
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