McCain Foods has spent $55m on acquiring a minority stake in fast-growing Irish plant-based food firm Strong Roots.
A joint statement said the deal would enable both firms to meet the rising consumer demand for healthy and natural food.
Strong Roots will continue to operate in an independent capacity but will use McCain Foods’ global presence to expand its own footprint in existing markets, including the UK, Ireland, and the US, and enter new markets. The partnership will also allow Strong Roots to expand into the foodservice market through McCain Foods’ out-of-home network.
For McCain Foods, the deal is expected to help it expand its product portfolio as more consumers look for healthier meals.
Strong Roots makes products such as cauliflower hash browns, mixed root vegetable fries, bites, and vegan burgers that have proved popular with people seeking plant-based options.
Samuel Dennigan, Strong Roots Founder and CEO, said: “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.”
Howard Snape, Regional President of McCain GB & Ireland, added: “As a family-run business, we take a long-term approach to everything we do, whether that’s focusing on making our products in a sustainable way to support the planet, or ensuring our food continues to meet constantly changing consumer needs.
“Strong Roots is a company that not only focuses strongly on sustainability but is also doing incredible work to grow the range of healthy frozen foods available when consumers are looking for it most.”
