To help Strong Roots, a leading plant-based frozen food company, grow and further drive its work in sustainability, McCain Foods, the family-owned world leader in frozen potato specialties and appetizers, announced an investment of USD55m, and a minority stake take in the business.
The partnership enables Strong Roots and McCain Foods to continue meeting the rising consumer demand for healthy and natural food globally.
The announced infusion of capital will enable Strong Roots and McCain Foods to work together to leverage both companies’ complementary strengths to continue Strong Roots’ rapid growth and further its mission to “fix the freezer aisle” and provide plant-based, environmentally responsible, positive food choices, for everyone – globally and impactfully.
“Strong Roots will use McCain Foods’ global presence to expand its footprint in existing markets, including UK, Ireland, US, and to enter new markets working with new retailers. The partnership will also allow Strong Roots to expand into the foodservice market through McCain Foods’ out-of-home network,” based on a recent press release.
Partnering with Strong Roots, McCain Foods will gain an expanded product portfolio that reaches out to the rising number of consumers looking for healthy, natural, and simple meals that are tasty and include real fruits and vegetables.
The partnership also bolsters McCain Foods’ commitment to planet-friendly foods. Strong Roots is focused on creating products that are sustainably farmed, shipped, and sold, and was the first Irish plant-based food business awarded a B Corp Certificate in 2020.
In connection with the transaction, Goode Partners LLC, a New York-based consumer private equity fund, which led the Series A investment in Strong Roots, is exiting the Board of Strong Roots and selling its shareholding, marking a successful exit for the investors.