McCain invests $55M, takes minority stake in Strong Roots
By Food in Canada staffBusiness Operations Plant-based foods Editor pick McCain Foods Strong Roots
Strong Roots, a plant-based frozen food company and McCain Foods announce a strategic partnership, with McCain Foods investing USD55 million in Strong Roots to take a minority stake in the business. The partnership enables Strong Roots and McCain Foods to continue meeting the rising consumer demand for healthy and natural food globally.
Strong Roots and McCain Foods will 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. Strong Roots will continue to operate in an independent capacity.
Strong Roots will use McCain Foods’ global presence to expand its own footprint in existing markets, including GB, Ireland, United States, 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.
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.
Samuel Dennigan, Strong Roots founder and CEO, said, “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 through 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.”
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