Quorn reportedly up for sale

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YORKSHIRE-based Quorn, the meat-free food maker, has reportedly been put up for sale by Exponent, its private equity owner.

The Sunday Telegraph claims that formal information packages are expected to be sent out to prospective bidders next week.

A spokesman for Quorn declined to comment.

In March, Quorn, which is based in Stokesley, North Yorkshire, announced plans for a £40m investment to drive its expansion.

The food manufacturer, which currently exports its meat alternative products to 15 international markets, said it was looking to build on the record eight per cent sales growth it experienced last year and plans to expand into at least one new international market in 2015, with a further two being considered.

Speaking in March, Kevin Brennan, Quorn Foods’ CEO, said: “Our £40m investment over the next 12 months is a real statement of intent, as we pursue our ambition to transform Quorn into a $1bn business, four to five times its current size.”