Strategic partnership will enable the frozen food start-up to expand into new markets and channels via MccCain’s distribution network
Leading frozen foods brand McCain Foods has announced a $55 million minority stake investment into plant-based competitor Strong Roots as part of a strategic partnership.
Strong Roots produces plant-based and healthier alternatives to traditional frozen foods. Its products are sold in 8000 stores across the UK, US, Asia and Middle East.
In a statement, McCain said the deal would help it reach “the rising number of consumers looking for healthy, natural and simple meals” and expand its footprint in existing markets like the UK and the US.
Meanwhile, Strong Roots, which will continue to operate independently, will leverage McCain’s distribution network to move into foodservice and new geographical markets.
Strong Roots founder and CEO Samuel Dennigan said of the partnership: “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 through globally and impactfully.”
Max Koeune, president and CEO of McCain Foods, said: “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.”
Strong Roots was advised by Spayne Lindsay. The law firm said the transaction was further evidence of its credentials advising founder-led businesses.
In February, McCain increased its total investment in vertical farms operator GoodLeaf to more than C$65 million.
Date published: 8 December 2021