King & Wood Mallesons has advised asset manager Intermediate Capital Group plc (ICG) on the sale of its interest, together with Exponent Private Equity, in Quorn Foods to Philippines-based Monde Nissin for £550 million.

Quorn is an international meat alternatives business with a market leading position in 15 countries. It has around 620 employees in three UK sites, in Germany, and in the United States.

ICG, a FTSE 250-listed investment firm and asset manager, together with Exponent Private Equity, have created one of the UK’s fastest growing food brands and transformed Quorn into a fast-growing international global health brand, with sales in 2014 reaching £150.3 million.

Andrew Wingfield, Corporate partner at King & Wood Mallesons, said: “Our long relationship with ICG and understanding of its commercial objectives in relation to its broad portfolio, enabled us to complete this strategic transaction. This deal is a further barometer of the growing attractiveness of UK consumer brands to Asian investors.”

This deal swiftly follows a string of recent transactions which the King & Wood Mallesons London Corporate team have advised on including Electra Partners and its portfolio company Elian on the acquisition of SFM Europe, a leading provider of corporate services with more than €1 trillion of assets under administration; HK CTS Metropark Hotels Co Ltd (CTS) on the acquisition of the entire issued share capital of UK based Kew Green Hotels; and London's leading residential developers Galliard Group on the £50 million investment by Singaporean property developer Oxley Holdings.