Strong Roots, the Ireland-based frozen-food supplier that has built a presence on both sides of the Atlantic, has secured investment from a US private-equity firm.
The company has sold a stake to US private-equity house Goode Partners, which has led a Series A round of fundraising in the business.
Strong Roots, set up in 2015, markets what the company says are premium frozen vegetables. The firm, headed by founder and CEO Samuel Dennigan, has listings with major retailers in Ireland, the UK and the US.
Retail sales are expected to reach US$50m this year, Strong Roots said as it announced the fundraising.
“Consumers globally are more educated than ever about harnessing the nutritional benefits and delicious taste of plant-based foods and are looking for high-quality options that are convenient to prepare. We’re excited to bring our unique, plant-based products to people across the US,” Dennigan said.
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Goode Partners’ previous investments in the food industry include the US organic bakery business Dave’s Killer Bread that was sold to Flowers Foods in 2015.
Dan Bonoff, a partner at Goode, said Dennigan had “created a truly differentiated brand and line of delicious plant-based food products”.
He added: “We could not be more proud to be partnering with Sam and the Strong Roots team to help fuel the next stage of its growth story. In an impressively short amount of time, Sam has built an exciting brand that resonates with consumers’ increasing preferences towards healthful and environmentally sustainable foods.”