Mondelēz to acquire majority stake in UK-based nutrition brand Grenade
Mondelēz International has agreed to acquire a majority stake in Grenade, a UK-based sports performance and active nutrition brand, for an undisclosed price, in a move to expand into the broader snacking and fast-growing well-being segments.
Grenade is the owner of the Carb Killa high protein bar, which is claimed to be the best-selling product in the segment since 2016.
Carb Killa is said to have a growing footprint in the UK and availability across other regions such as North America and Asia Pacific.
Dirk Van de Put – Chairman and CEO of Mondelēz International said: “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.”
Mondelēz to acquire majority stake in UK-based nutrition brand Grenade. Photo courtesy of Mike Mitchell/Wikipedia.org.
Founded by Alan Barratt and Juliet Barratt in 2010, Grenade gets nearly 25% of its sales from online channels.
Grenade had launched new products, which include high-protein, low-sugar bars apart from innovating into shakes, spreads, and cookies.
Alan Barratt – CEO of Grenade said: “When Jules and I founded Grenade from our spare bedroom with a budget of $700, we dreamt of building an iconic brand available globally.
“This partnership with Mondelēz International gives us access to enormous resource and capability to help make those aspirations a reality and I couldn’t be more excited about our future growth and continued innovation.”
Mondelēz International said that Grenade will be operated separately to promote its entrepreneurial spirit and sustain the authenticity of the brand. However, the confectionary giant will provide resources, support and international scale to help fast track the growth of the high protein bar manufacturer.
Alan Barratt and the current senior leadership of Grenade will continue to operate the business from its headquarters in the UK and will hold a minority stake in the company.
The transaction is anticipated to close by the end of this month.