McCain Foods said it will be investing $55 million (£41.6m) in Strong Roots, a leading plant-based frozen food company based in Dublin.
The strategic partnership will see McCain, the family-owned world leader in frozen potato specialties and appetizers, taking a minority stake in Strong Roots, to help the company grow its plant-based product range globally.
Strong Roots will continue to operate in an independent capacity, but they will be able to use McCain’s global presence to expand its own footprint in existing markets - Ireland, the UK and the US - and to enter new markets.
The partnership will also allow Strong Roots to expand into the foodservice market through McCain’s out-of-home network.
McCain said it will gain an expanded product portfolio that reaches out to the rising number of consumers looking for healthy, natural and simple meals with the partnership, while bolstering its 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.
“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,” Max Koeune, president and chief executive of McCain Foods, said.
“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.”
Samuel Dennigan, Strong Roots founder and chief executive, addeed: “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.”
Founded in 2015, Strong Roots boasts a range of cauliflower hash browns, mixed root vegetable fries, bites and burgers.
For McCain Foods, the announcement complements a series of investments in recent years ensuring the leading food producer continues to meet the changing consumer tastes globally, following its investments in The Simple Root, a plant-based food producer offering dairy alternative products, SIMULATE, a plant-based chicken nugget alternative, and GoodLeaf Farms, an indoor vertical farming company that grows nutritious, delicious and sustainable leafy greens.
