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
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.