Based in Stokesley, North Yorkshire, and employing 340 people, Marlow Foods has a turnover of over £80 million. Marlow Foods manufactures an extensive range of branded chilled and frozen foods. These include ready meals, fillets, sausages, nuggets, grills, burgers, deli slices, pieces and mince, making it the leading European brand in the meat alternative market.

Since its UK national launch in 1994, Quorn has developed into the UK's number one healthy meat alternative brand and has established successful international operations in the US and several other European countries. The financing package assembled by Montagu will enable the business to continue its uninterrupted growth and market leadership.

Commenting on the purchase Simon Pooler, Director of Montagu Private Equity, who will join the Board of Marlow Foods as a non-executive Director, said: 
"This announcement is the first acquisition since our MBO from HSBC in March and is exactly the high quality of business we look to invest in. Quorn is firmly established as a major healthy eating brand in the UK and the team is replicating this success in a number of international markets. Marlow Foods is delivering significant growth both in the UK and overseas and we are delighted to invest in this high growth business."

Marlow Foods' Chief Executive, Nick Hughes, adds: "We have a great team of people who are delighted to be partnering with a company that shares our brand vision and passion for the business. People want to have a healthier diet and still enjoy great tasting quality food. Quorn products deliver on both taste and health and are the fundamental reasons why we are market leader selling well over 100 million meals last year to millions of satisfied customers. We look forward to further growth and success in the years ahead." 

Ross Warburton, who spent nine years as Executive Chairman of Warburtons Limited, joins Marlow Food as Chairman.

Debt funding for the deal was from HSBC. Montagu were advised on the acquisition by PricewaterhouseCoopers' Manchester based Corporate Finance and Transaction Services teams, with legal advice provided by Eversheds' Manchester office.

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