Strong Roots Received investment from McCain Foods
Strong Roots Received investment from McCain Foods
Transaction
Overview
Spayne Lindsay is delighted to announce that it has advised Strong Roots on entering into a strategic partnership with McCain Foods.
Founded in 2015, Strong Roots is a leading plant-based food company which set out to fix the freezer aisle by creating a range of delicious plant-based options, that were sustainably farmed, shipped and sold. The brand was founded by Samuel Dennigan, with the vision that food can be better. The company offers healthy, plant-based frozen food products, including Cauliflower Hash Browns, Mixed Root Vegetable Fries, Spinach Bites, and Kale & Quinoa Burgers. Its products are sold in over 8,000 stores worldwide including major retailers in Ireland, the UK, and the U.S., as well as Singapore, Iceland, United Arab Emirates, Australia and France.
McCain Foods is the world’s largest manufacturer of frozen potato specialties, and also produces other quality products such as appetisers, vegetables and desserts that can be found in restaurants and retail stores in more than 160 countries around the world. In Canada, the company has eight production facilities with approximately 2,400 employees and, in addition to its famous French fries and potato specialties, makes frozen desserts, snacks and appetisers.
As part of the transaction, McCain Foods has invested US $55m to take a minority stake in the business and support Strong Roots’ continued rapid growth.
“We struck a really good relationship with the team in Spayne Lindsay from the beginning. The transaction required a lot of trust on both sides, and this paid off for everyone involved. The detailed and systematic approach to the process led by Spayne Lindsay was a great experience both from my perspective as well as the wider team from within the Strong Roots organisation also. A great example of intercompany teams working in harmony.”
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