McCain Foods Takes Minority Stake in Strong Roots

McCain Foods Acquires Majority Stake in Strong Roots

April 15, 2024

Food & Beverage

McCain Foods has acquired a majority stake in Strong Roots, a Dublin-based plant-based frozen food company founded in 2015. McCain — which previously invested $55 million for a minority stake in 2021 — said it will scale the Strong Roots brand into more regions and develop additional vegetable-forward products.

Millstone Capital Advisors Acquires Native Foods

June 18, 2018

Restaurants & Hospitality

St. Louis-based private equity firm Millstone Capital Advisors has acquired Native Foods, a Chicago-based plant-focused fast-casual restaurant chain with 13 locations across California, Colorado, Oregon and Illinois. Millstone said the investment will provide resources to support Native Foods' expansion while maintaining the brand's plant-based mission and operations under existing management.

FreshEdge Acquires McCartney Produce

November 19, 2020

Food & Beverage

FreshEdge, the family of produce and specialty food distribution companies backed by Rotunda Capital Partners, has acquired McCartney Produce, a Paris, Tennessee-based distributor of fresh produce and specialty food products. The deal, which closed on November 18, 2020 (terms not disclosed), expands FreshEdge's presence in Tennessee, the Southeast and the Midwest; McCartney will continue to operate from its Paris facility with Raymon Randolph remaining as president.

Champlain-Led Investor Group Acquires Majority Stake in Wong Wing Foods, Forms MLW Foods with McCain

February 3, 2021

Food & Beverage

An investor group led by Champlain Financial Corporation, including Fondaction, acquired a majority stake in the Wong Wing business unit from McCain Foods Canada and — in partnership with McCain — created a new frozen-food platform called MLW Foods Inc. based in Montreal, Quebec. The deal (terms not disclosed) positions the platform to expand Wong Wing’s branded and private-label frozen Asian snacks, entrees and appetizers across North America through new product innovation and channel growth.

Ardian Acquires Majority Stake in Florida Food Products

September 21, 2021

Food & Beverage

Ardian's U.S. Buyout team acquired a majority stake in Florida Food Products (FFP) from MidOcean Partners, with MidOcean retaining a significant equity stake. The transaction (enterprise value in excess of $1 billion) positions Ardian to support FFP's product innovation, capability expansion and international growth in clean-label, plant-based food ingredients.

Bansk Group Acquires Majority Interest in Red's All Natural

February 14, 2023

Food & Beverage

Bansk Group has acquired a majority interest in Red's All Natural, a fast-growing clean-label frozen burrito and breakfast sandwich brand; terms were not disclosed. Stellus Capital Management provided senior debt financing and an equity co-investment to support the transaction, and founder/CEO Mike Adair will remain in leadership and retain a significant minority stake.