Monde Nissin's largest Filipino food producer spends $23 Billion to acquire British Quorn Foods to launch alternative meat free protein market under the Quorn™ brand in Asia, including Thailand. The launch in Thailand will appeal to the trend of modern Thai people who love health and the environment. The business is expected to grow by more than 20% over the next two years.
Mr. Rinoffi Tiem Lee, Executive Chairman of Monde Nissin Singapore, who manufacturer and distribute food products under the Monde Nissin Group, Asia, said, "The company is seeking to expand presence in our home countries of the Philippines, Thailand and Australia. The company has turned to alternative protein products under the Quorn™ brand, a brand of British alternative food which has already launched in the Philippines. Thailand will be the second country in Asia to launch the Quorn™ brand.”
Quorn products launched initially are Chunks, Grounds and Nuggets and this is expected to be followed by a Vegan range. Quorn is different from other foods that are not made from meat. There is no soy component and the products are free from genetics. Quorn is an innovative, scientific food made from mycoprotein. There is a real meat texture, both texture and meat fiber, and the products are low in saturated fat, highly nutritious, high in fiber and contains all necessary amino acids.
"We see Thailand as a potential market for food. Especially food for health. At present, competitor products are made from soy based foods and most of these are local brands. Quorn will be an alternative to flavor and will include nutrients that are very different from soy. In the first year, the launch will focus around the brand. Consumers will have the opportunity to test products through various distribution channels. After launching Quorn in Thailand, the company plans to expand its market to Singapore, Hong Kong and Korea by the end of 2017. "
Kevin Brennan, Executive Chairman of Quorn Foods, England, said, "In England, Quorn is the largest choice for alternative food products, which has been popular for more than 30 years. We recognize the potential of the Asian market and it’s continued growth in health awareness - especially in Thailand where many are interested in maintaining fitness, may already follow a vegetarian diet, or simply want to consume less meat. "
For launch, Monde Nissin has introduced three products ranging from 99 to 119 baht in chunks, grounds and ready-to-eat nuggets. Quorn will be available at leading supermarkets. From mid-April 2017 onwards.