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The owner of veggie brands Quorn and Cauldron Foods has revealed that Brexit will not affect investment plans to grow internationally.
Directors at Marlow Foods Ltd – which distributes and sells a number of products under the Quorn and Cauldron brands – said the firm is continuing to assess the Brexit situation, and has ‘no plans to limit [its] planned investment to grow [its] international business’.
The firm’s veggie and vegan products sell across the UK, Europe, Australia, South Africa, South East Asia, and the US, with further markets set to come.
The directors added: “The board will continue to monitor and evaluate the situation as the future trading relationship with Europe becomes clearer.”
Earlier this year, Quorn CEO Kevin Brennan announced a £150m investment at the Billingham, UK site – in a bid to grow in Asia, Australia, and US so that the firm can thrive whatever the results of EU talks.
Accounts published recently have shown revenues for the meat-free names grew 11.4 percent to £176.1m in 2016.