Exponent eyes Quorn divestment

A source close to the situation confirmed the GP expects bidding to begin for the food company – a meat substitute producer – in October.

The transaction could value the business at around £500m, according to Sky News.

There are various potential exit routes open to Exponent, with various private equity firms and trade buyers having already made enquiries, unquote” understands. The business has also not ruled out an exit via the public markets.

Exponent and Intermediate Capital Group acquired Quorn from listed parent company Premier Foods in January 2011 for an aggregate consideration of £205m.

It is understood Houlihan Lokey has been appointed to oversee the sale.

Exponent declined to comment on the potential exit.

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• Topics
• Exits
• UK / Ireland
• Consumer
• United Kingdom
• Exponent Private Equity