Wed, 08 Dec 2021 | BUSINESS SALE
McCain Foods has announced the £41.5 million acquisition of a minority stake in Irish plant-based food producer Strong Roots. The deal comes amid a concerted shift towards plant-based options among big food brands, part of a broader trend towards healthier eating.
This has prompted a strong period of deal making in the food sector, as firms look to acquisitions to bolster their portfolios, with McCain becoming the latest food giant to target the plant-based market. Founded in 2015, Strong Roots produces a range of plant-based products, including mixed root vegetable fries, vegetable hash browns, burgers and bites.
The acquisition will expand McCain’s portfolio of vegetable and plant-based frozen foods, enabling it to better meet growing customer demand for healthier and more environmentally-friendly food choices. McCain has committed to selling more “planet-friendly” food and M&A activity looks to form a key part of this.
Aside from taking a stake in Strong Roots, the company has also recently invested in dairy alternatives firm The Simple Root, indoor vertical farming business GoodLeaf Farms and alternative chicken nugget brand Simulate.
While Strong Roots will continue to trade independently, the deal will enable it to use McCain’s global position to expand its own presence in its existing markets (the UK, Ireland and US) and to expand into new markets. McCain’s investment will also allow the firm to move into the food service market, using McCain’s out-of-home network.
McCain Foods President and CEO Max Koeune said that Strong Roots is “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 Founder and CEO Samuel Dennigan added: "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."
Find businesses for sale here.
If you are looking for an exit, we can help!
Established in 2019, this fully licensed coffee shop, complemented by a successful e-commerce website, stands as a prominent business in the heart of Cheshire.
LEASEHOLD
Stylish restaurant cafe/bar in highly desirable South West coastal suburb. Very valuable premises which would command an estimated replacement fit out in the region of £200,000 if fitted out and equipped today. Occupying sought after high profile mai...
LEASEHOLD
Popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportun...
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.