Noodle Maker Bets Americans Will Dig Quorn’s Alternative Chicken
- Monde Nissin will use IPO proceeds to ramp up Quorn production
- U.K.-based Quorn will face Beyond Meat and Impossible Foods
Photographer: Simon Dawson/Bloomberg
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Monde Nissin Corp. will use some of its $1 billion initial public offering proceeds to expand its Quorn Foods Ltd. fake meat business in the U.S., the world’s biggest market by far for plant-based alternative food.
The Philippines-based company, which also sells staple foods and is the owner of Lucky Me! instant noodles, will use Quorn’s substitute chicken product to take on heavyweights like Beyond Meat Inc. and Impossible Foods Inc. in a sector dominated by faux beef, executives said in an interview.