[NEWS] Vegetarian frozen food brand Strong Roots looks to expand in the U.S. with $18.3 million funding – Loganspace

The U.K.-based totally mostly vegetarian frozen food companyRobust Rootshas picked up $18.3 million in funding from the non-public equity firm, Goode Companions, because it appears to be like to expand its U.S. presence and compose out its technological capabilities.

Informed by global mid-market investment monetary institution,Alantra, Robust Roots has a presence within the U.S. in retailers including Target, Wegmans and Complete Foods, and within the UK at Tesco, Asda, Sainsbury’s and Marks and Spencer.

Neither a all of a sudden to shopper company nor a novel skills developer, Robust Roots is hoping to make enlighten of the original financing to expand its research and trend efforts to provide extra purposeful meals and nutrients, in accordance with chief executive officer Samuel Dennigan.

The company is heading within the correct direction to jog $50 million worth of frozen vegan food items within the calendar 300 and sixty five days, and it expects its sales to higher than quadruple over the next four years.

The company’s distinctive improve comes at a time when customers globally are shopping for wholesome alternate choices. Robust Roots supplies a vary of tasty plant-based totally mostly food designed for busy lives. Blow their private horns on your freezer aisle, the award-winning line entails top rate root vegetables, veggie burgers and freezer favorites like Cauliflower Hash Browns.

The company has realized a sturdy accomplice in Goode Companions, whose outdated investments encompass AllSaints and La Colombe.

Dennigan’s occupation in agribusiness stretches support 15 years, nonetheless his family has prolonged been within the food manufacturing and distribution trade.

“I started working with some world producers within the unhurried nineties and saw how CPG companies were doing things in a miserable contrivance,” says Dennigan. Before the entirety the corporate belief it would jog after recent meals, nonetheless saw extra replacement within the frozen food aisle.

Robust Roots started promoting its frozen meals in 2015 fair as the vegan and effectively being food craze started to surge.

While the corporate has spent the previous four years raise a tag as a vegan replacement in frozen meals, Dennigan is now in a position to expand into other categories. “The items of IP that are going to be developed and placed in market within the next 300 and sixty five days in particular spherical the fortification of the merchandise,” he says. “What our research is exhibiting us is that there’s a gargantuan replacement between extruded and food and what we’re doing.”

Dennigan is, finally, referring to companies likeBeyond Meatand Now not doable Foods which rep constructed protein replacement businesses all the most effective contrivance through the last ten years and rep surged into shopper consciousness with enormous provides at like a flash food chains (and no diminutive quantity of kerfuffles).

The success of these two companies has bid up a feeding frenzy amongst investors who’re voraciously scarfing up vegetarian food companies to add to their portfolios.