Quorn Foods plans European expansion after reporting record turnover

North Yorkshire’s Quorn Foods is launching a programme of European expansion, starting with Germany, Denmark and Finland this October, as the company aims to significantly increase its presence on the continent over the next two years.

The move follows a two-year period of record growth for the company, with half-year results for 2014 showing a nine per cent increase in global sales volumes, ensuring it remains on track to exceed last year’s record turnover of £141 million.

Quorn, which already operates in 16 international markets, will begin its expansion drive with a German market launch in early October.

Quorn is currently investing £30 million to create a third fermenter at its Billingham production site near Middlesbrough, which will boost the company’s production capacity by 50 per cent, creating up to 400 jobs in the process.

The move follows a successful two year trial, with the company set to sell specially tailored products through leading German retailers, including Rewe, Edeka and Globus, driving distribution and penetration.

Germany has been recognised as a significant growth opportunity for Quorn, with the country’s meat-free market currently worth €100m and growing at 30 per cent year-on-year.

As well as Germany, Quorn is also launching nationally in Denmark and Finland in late October, building on initial smaller scale success in both markets, with the company currently evaluating several other European markets including Spain and France.

Kevin Brennan, CEO of Quorn said: “Despite the challenging economic environment in the eurozone countries, we believe the unique nature of Quorn enables us to continue to invest in new markets, including setting up our own sales office in Germany.

“With strong investment and through good local organisation, we’re confident that Quorn can become a market leading brand.”

“We’re seeing growth all over the world, as people globally are re-thinking their meat-eating habits and becoming more aware of the ethical, health and environmental benefits Quorn offers.

“For the first time, more carnivores than vegetarians are eating our products, with two million more people buying our products over the last year.

“Our expansion into Germany is just the beginning. Quorn has the potential to become a $1bn business, four to five times its current size, building on the success we are already experiencing across the globe.”