Monde Nissin is a Philippines-based food and beverage company with a brand portfolio of Lucky Me! (noodles), Skyflakes (crackers), Fita (crackers), and Monde (baked goods) and Quorn (plant-based meat products). Quorn is a plant-based meat brand and was acquired in 2015 by Philippines-based food and beverage company Monde Nissin for GBP 550 million (USD 825 million). Quorn Foods, based in the UK, uses mycoprotein as the main ingredient to make its prepackaged meals. This mycoprotein used by Quorn Foods is made by fermenting a natural growing microfungus called Fusarium Venenatum which was discovered after screening over 3,000 soil samples.
Quorn Foods was founded in 1985 by Marlow Foods—a joint venture between Rank Hovis McDougall (RHM) and Imperial Chemical Industries (ICI). Prior to being acquired by Monde Nissin, Quorn Foods was acquired several times over the years. It was acquired by Montagu Private Equity in 2003, by Premier Foods in 2005, and by Exponent Private Equity in 2011.
The company's product portfolio consists of around 70 varieties of plant-based meats and meals in chilled and frozen packaging. Quorn products are available with 15 retailers across the UK and in 14 countries including several European countries, the US, Philippines, New Zealand, Australia, South Africa, and Thailand. The brand also collaborated with KFC and Pizza Hut to launch menu items featuring alternative burgers and pepperoni made using it’s mycoprotein.
On June 1, 2021, Monde Nissan started trading on the Philippines Stock Exchange, raising PHP 48.6 billion (USD 1 billion), marking the country's biggest-ever IPO. Monde Nissin planned to use these funds for scaling up production and increasing the sales of its instant noodles. With the new capital, the company aims to invest in Quorn to grow at the same pace as the sector within the next two to three years. Quorn contributed 22% of the group's net sales of USD 1.4 billion in 2020.
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