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Potato and frozen food specialist McCain has announced it has bought the outstanding shares Strong Roots, a plant-based frozen food company based in Ireland, to fully acquire the company.
McCain had previously invested $55 million to acquire a minority stake in Strong Roots in 2021.
Commenting on the acquisition, McCain chief growth and strategy officer Peter Dawe said: “Since 2021, our partnership with Strong Roots has reflected our ambition to invest for the future, and to diversify our portfolio to ensure we continue to meet evolving consumer demands. We are excited to help further accelerate growth, bringing natural, simple meals and ingredients to even more customers in retail and foodservice markets”.
Strong Roots founder and CEO Samuel Dennigan said: “We have witnessed tremendous growth since partnering with McCain and this move will enable Strong Roots to maintain its focus on sustainability while propelling innovation to bring delicious, vegetable forward products to more consumers around the world”.
Strong Roots will continue to operate as an distinct business, with Samuel Dennigan supporting the team to advance portfolio innovation and brand growth, the company said.
Terms of the transaction were not disclosed.
Source: McCain
