UK-based frozen food company Strong roots It received $ 18.3 million in funding from private equity firm Goode Partners as it looks to expand its presence in the United States and build its technological capacity.
Advised by the investment bank in the middle of the global market, AlantraStrong Roots has a strong US presence in retailers including Target, Wegmans and Whole Foods, and in the UK in Tesco, Asda, Sainsbury’s, Marks and Spencer.
Strong Roots hopes that no new consumer company or technology developer will use this new funding to expand its R&D efforts to provide more functional food and nutrients, CEO Samuel Denigan said.
The company is on track to transport frozen plant foods worth $ 50 million per calendar year and expects its sales to more than quadruple over the next four years.
The company's exceptional growth comes at a time when consumers around the world are looking for healthy options. Strong Roots offers a range of delicious vegetarian foods designed for busy life. The award-winning line is found in your freezing pass, and includes excellent root vegetables, burgers and favorite vegetables such as cauliflower shoots.
The company found a strong partner in Goode Partners, whose previous investments include AllSaints and La Colombe.
Denigan's agro-industrial life spans 15 years, but his family has long been involved in food production and distribution.
"I started working with some international brands in the late 1990s and I saw how CPG companies are doing things badly," says Denigan. Initially, the company thought it would go after fresh foods, but saw a greater chance in the frozen food corridor.
Strong Roots started selling frozen foods in 2015 just as plant madness and healthy food began to rise.
While the company has spent the past four years building a brand as a vegetarian alternative to frozen foods, Dennigan is now ready to expand into other categories. “The IP parts that will be put on the market in the next 12 months will be developed, especially around product enhancement,” he says. "WOur research proves that there is a great opportunity between extrusion, food and what we do. "
Dennigan, of course, refers to companies like Beyond meat The Impossible Foods, which have built alternative protein companies over the past ten years, have evolved into consumer awareness through great deals in fast food chains (and there is no small amount of shelves).
The success of these companies has caused a stir among investors who are fiercely dismantling vegetable food companies to add to their portfolios.