Vegetarian frozen food brand Strong Roots looks to expand in the US with $18.3 million funding
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 the U.S. in retailers, including Target, Wegmans and Whole Foods, and in the U.K. at Tesco, Asda, Sainsbury’s and Marks and Spencer.
Neither a direct to consumer company nor a novel technology developer, Strong Roots is 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, and it expects its sales to more than quadruple over the next four years.
The company’s exceptional growth comes at a time when consumers 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.
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