INSUBCONTINENT EXCLUSIVE:
The U.K.-based vegetarian frozen food company Strong Roots has picked up $18.3 million in funding from the private equity firm Goode
Partners as it looks to expand its U.S
presence and build out its technological capabilities.Advised by global mid-market investment bank Alantra, Strong Roots has a presence in
in retailers, including Target, Wegmans and Whole Foods, and in the U.K
hoping to use the new financing to expand its research and development efforts to provide more functional foods and nutrients, according to
chief executive officer Samuel Dennigan.The company is on track to move $50 million worth of frozen vegan food items in the calendar year,
globally are looking for healthy options
Strong Roots offers a range of tasty plant-based food designed for busy lives
Found in your freezer aisle, the award-winning line includes premium root vegetables, veggie burgers and freezer favorites like Cauliflower
Hash Browns.The company has found a strong partner in Goode Partners, whose previous investments include AllSaints and La
At first the company thought it would go after fresh foods, but saw more opportunity in the frozen food aisle.Strong Roots began selling its
frozen foods in 2015 just as the vegan and health food craze began to surge.While the company has spent the past four years building up a
brand as a vegan alternative in frozen foods, Dennigan is now ready to expand into other categories
referring to companies like Beyond Meat and Impossible Foods, which have built protein replacement businesses over the past 10 years and
have surged into consumer consciousness with big deals at fast food chains (and no small amount of kerfuffles).The success of those two
companies has set up a feeding frenzy among investors who are voraciously scarfing up vegetarian food companies to add to their portfolios.
