UK: Quorn invests GBP30m in production capacity
Quorn has planned a GBP30m investment in to its Billingham production site
UK meat-free goods manufacturer Quorn Foods is to make a GBP30m (US$50m) investment into increasing its production capacity, a move that will see 100 jobs created.
The firm said the decision to grow at its Billingham site was made "on the back of record sales growth" over the last year. The first quarter of 2014 has seen sales up 13.5%.
Quorn is currently exporting to 13 countries. The expansion, which includes the creation of a third fermenter at the plant, will allow it to increase production by 50%.
Kevin Brennan, chief executive of Quorn Foods, said: "While most of the food industry is seeing very little growth, the last 15 months have been our best yet, with the company recording double-digit growth every month.
"A big factor behind this has been the fact that an ever growing number of people are rethinking their meat eating habits and realising that 500 meals a year with meat is too much for our health and the planet.
"Consequently, we've found ourselves struggling to keep up with demand and and we're now in a position where we need to significantly increase our production if we are to maintain growth."
The construction process is expected to take 18 months to complete.
In January, just-food met Quorn CEO Kevin Brennan to discuss the company's recent growth and its expansion ambitions. Click here for the interview.
Euromonitor International Local Company Profiles are a concise set of briefings detailing the strategic direction taken by a company. Discover key contact details, the company background and their com...
Packaged food managed to produce growth outside of inflation, however in context of the review period, growth was lower in 2013 than the average rate of growth over the 2008-2012 period. Weekly food b...
- M&A Watch: Emmi shareholders should consider sale
- Comment: Paying the price for eating healthily
- Focus: Will Danone return to growth in dairy?
- Why Nestle is relaxed about the China "drag"
- Focus: Why French retail deals could hit suppliers
- Nestle organic sales fall on Asia, Europe
- Heinz jobs in Australasia to go in restructuring
- Danone "eyes acquisition of Mead Johnson"
- Nestle "disappointed" as ASA bans toddler milk ad
- Sanitarium launches oat-based breakfast drink