market

Gluten-free noodle firm Mr Lee's Noodles to sell £5m stake


Gluten-free noodle firm Mr Lee’s Noodles to sell £5m stake in deal that could value the business at £30m

A healthy noodle firm founded by an entrepreneur with a life-threatening illness is poised to sell a stake in a deal that could value the business at £30million.

City sources said Mr Lee’s Noodles has hired advisers from Bluebox Corporate Finance to sell a £5million holding to fund expansion.

The firm was founded by Damien Lee in 2015 when he was diagnosed with stage-four chest and stomach cancer and given just a few weeks to live.

Mr Lee's Noodles has hired advisers to sell a £5million holding to fund expansion

Mr Lee’s Noodles has hired advisers to sell a £5million holding to fund expansion

The technology entrepreneur realised that as well as undergoing chemotherapy, he had to adopt an ultra-healthy diet, but he craved instant noodles, his favourite ‘guilty pleasure’. 

That’s when he came up with the idea of revolutionising them by creating a gluten-free version. Since then, the company has grown rapidly.

Quorn owner Monde Nissim and Kellogg’s have been tipped as potential buyers of the stake.

Read More   Harassment claims fail to take shine off Ted Baker over Christmas as fashion brand's sales jump 12%



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.