Strong Roots announces a $55 million investment from McCain Foods in what is reportedly one of the largest deals in plant-based from a European competitor. The Dublin based company has a strong presence in mainstream US retail, is the fastest-growing food brand in the UK, and one of the few food brands to have received a B Corp certification.
Young entrepreneur Samuel Dennigan launched Strong Roots in 2015 on a mission to “redefine frozen” and just three years later secured $18.3 million in a Series A funding. This year saw a widespread rollout into US retail including Kroger stores as well as Walmart and Wholefoods.
Speaking to vegconomist in 2020, Dennigan said that the products’ simplicity is the secret to the brand’s success: “You break open our burgers, you see vegetables. When consumers look at the back of our packs, they understand the ingredients and what goes into their food.”
Strong Roots will remain independent with McCain Foods taking a minority stake in the business. Strong Roots will use the funds to rapid growth in existing markets, including GB, Ireland, and United States, to enter new markets working with new retailers, as well as expand into the foodservice market through McCain Foods’ out-of-home network.
“Our role is to be better, food can be better”
Samuel Dennigan commented today: “As food producers, our role is to be better, food can be better, and our duty is to lead the betterment of ingredients, sourcing, packaging, process and taste, at the same time as working with our partners to achieve this.
“Working in partnership with McCain Foods means that we are able to grow our brand and the values it stands for, while providing us at Strong Roots with the resources and capabilities we need to see change globally and impactfully.”
Max Koeune, President & CEO of McCain Foods, said: “Since the McCain family founded McCain Foods in 1957, our entrepreneurial roots and passionate focus on creating the best tasting food has led to us being at the centre of mealtimes for generations.
“That’s why we’re so excited to be partnering with Strong Roots, a company that not only aligns with our innovative approach to creating food, but also helps us grow our portfolio of healthier food that meets changing consumer demands in a sustainable way. We’re looking forward to working with Samuel and the Strong Roots team to help bring a healthy range into more homes across the world.”