Following its initial investment of $55 million in Strong Roots back in 2021, McCain has now announced the acquisition of the Ireland-based “veg-first food brand” for an undisclosed sum.
Following the acquisition, Strong Roots will operate as a distinct business under the leadership of Charlotte Turton, while Samuel Dennigan will remain “working alongside the team to propel further portfolio innovation and brand growth,” says the company. A brand advisory council will be established, including Dennigan and members of the Strong Roots and McCain teams, as well as external advisors, to expedite future growth.
Shortly after McCain took a minority share in 2021, Strong Roots founder Samuel Dennigan spoke to vegconomist about his optimism for the future of the fast-growing frozen food brand, saying, “We’re very excited about the investment and what this means for the future of Strong Roots. This investment signifies that Strong Roots is on a growing path to becoming a global household name, a leader in the sustainable food industry.
“The funds give us access to a greater supply chain, worldwide distribution, and research and development that is very important to our brand. Using McCains’ global presence and resources to expand Strong Roots’ footprint in existing markets, in particular the U.S., we will enter new markets and work with new retailers. The funding will also allow Strong Roots to expand into the foodservice market through McCain Foods’ out-of-home network,” he added at the time.
Fixing the freezer aisle
McCain, headquartered in Canada and the world’s largest manufacturer of frozen potato products, states that the move represents a continuation of its commitment to “fix the freezer aisle” by expanding the Strong Roots brand into more regions. At present, the product portfolio is available in Ireland, the UK, and the USA, where robust growth continues YOY; last year the company reported it expected to reach a record $30 million in sales in the US alone. Strong Roots products have so far joined the McCain Foodservice portfolio in GB and Ireland and retail portfolio in France, with further plans to scale retail and foodservice offerings globally.
Peter Dawe, Chief Growth and Strategy Officer of McCain Foods, comments: “Since 2021, our partnership with Strong Roots has reflected our ambition to invest for the future, and to diversify our portfolio to ensure we continue to meet evolving consumer demands. We are excited to help further accelerate growth, bringing natural, simple meals and ingredients to even more customers in retail and foodservice markets.”
Samuel Dennigan said of the acquisition: “We have witnessed tremendous growth since partnering with McCain and this move will enable Strong Roots to maintain its focus on sustainability while propelling innovation to bring delicious, vegetable-forward products to more consumers around the world.”
Jillian Moffatt, Regional President, McCain GB & Ireland, comments: “This investment bolsters McCain’s commitment to planet-friendly food, enabling us to extend our portfolio of healthier options that are grown, processed and shipped in a sustainable manner. With a vision and values aligned to McCain’s, we are excited to continue our journey to scale the Strong Roots brand globally.”
