Quorn Foods is expanding its flagship manufacturing facility in Billingham with a £150 million investment.
This follows news that the company have achieved a 19% growth during the first half of 2017.
The North Yorkshire company is expected to become a billion dollar brand by 2027. Its latest investment is part of the company’s wider efforts to achieve this aim.
The investment will cover the expansion of the company’s main manufacturing facility at Billingham, Teesside; making it the largest facility of its kind globally.
“We are proud to be contributing to the UK’s export drive and to be investing in a British innovation that is vital to addressing the future need for protein across a growing global population,” said Quorn Foods CEO, Kevin Brennan.
“Our growth will continue as expected, regardless of the Brexit deal that is reached. In fact today’s investment is indicative of our confidence in becoming a billion dollarbrand in the next 10 years.”
Growth has been strong in the EU, where Quorn Foods continues to invest. The company has however, driven aggressively outside the EU. The US business is up 40%, Australia 35% and Asia, a new market for Quorn Foods, is also succeeding.