“Unprecedented” growth at Quorn
Meat-free foods company Quorn has seen “unprecedented” growth as interest in its products grows globally.
The North Yorkshire-based company has reportedly seen sales grow 19%, it told the BBC. Accounts have not yet landed at Companies House for Marlow Foods, trading as Quorn.
The Stokesley-based meat free specialist, which manufactures its substitutes from a fungus, says it made a pre-tax operating profit of £13.7m in the first six months of 2017.
It also announced that it was planning on creating 300 jobs at its facility in Billingham in Teesside, investing £150m in the site.
Quorn chief executive Kevin Brennan said: “We are proud to be contributing to the UK’s export drive and to be investing in a British innovation that is vital to addressing the future need for protein across a growing global population.
“Our growth will continue as expected, regardless of the Brexit deal that is reached.
“In fact, today’s investment is indicative of our confidence in becoming a billion-dollar brand in the next 10 years.”
In addition to its North Yorkshire HQ and Teesside base, the company has sites in Norfolk, Frankfurt in germany and Chicago in the US.
Quorn was sold in September 2015 for £550m to Monde Nissin Corporation, a Filipino firm. Brennan said at the time that it was their ambition to turn Quorn into a $1bn company.
