Grenade has been acquired Mondelēz International, in the US conglomerate’s first foray into UK acquisitions since it bagged the Cadbury’s brand, 10 years ago.
Grenade, based in Solihull, manufactures a range of sports nutrition products, including high-protein bars, shakes, spreads and biscuits. Founded in 2010, the company has a growing presence in the UK and is also available across other regions including North America and Asia Pacific. Grenade is said to have a strong e-commerce presence with approximately 25% of its sales coming from online channels.Mondelēz says its recent acquisition will enable its expansion in broader snacking and fast-growing well-being segments. The company did not disclose the terms of the transaction – which is expected to be completed by the end of March – but Grenade has previously been valued at around £200 million.
‘I’d like to welcome Grenade to the Mondelēz International family’, wrote Dirk Van de Put, Chairman and CEO of Mondelēz International, on LinkedIn. ‘Grenade’s high protein bars and snacks are an exciting addition to our well-being snacking portfolio in the UK and beyond. Founders Alan and Juliette Barratt started the company over a decade ago and have a great story, fueled by their dream of building an iconic sports nutrition brand. Our partnership will work on making this dream a reality, as we focus on the brand’s continued growth and innovation. I’m looking forward to it! Grenade’s great-tasting, on-trend products are a great platform for Mondelēz International in the UK market and beyond. This is another exciting opportunity to deliver on our strategy to be a global leader in broader snacking, including in the important area of well-being.’
Alan Barratt said: ‘When Jules and I founded Grenade from our spare bedroom with a budget of $700, our dream was to build an iconic brand that was available globally.This partnership with Mondelēz International gives us access to enormous resources and the capability to help make those aspirations a reality. I couldn’t be more excited about our future growth and continued innovation.’
Following completion of the deal, Grenade’s current senior leadership will continue to run the business from Solihull and will retain a minority equity interest in the company. Meanwhile, Mondelēz plans to operate the firm separately and will provide resources to support the international growth of the brand.
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