Mondelez International has acquired UK nutrition brand Grenade as it looks to strengthen its position in the “important area of wellbeing”.
Grenade, which makes protein bars including Carb Killa, has been the best selling product in the category since 2016, with a 13% share. It is now available in more than 50 countries across regions including North America and the Asia Pacific.
The brand was founded by husband and wife team Alan and Juliet Barratt in 2010 and has a strong eCommerce presence, with around 25% of sales coming from online. In addition to protein bars, Grenade has extended its offer to include shakes, spreads, and cookies in recent years.
Cadbury owner Mondelez, which is acquiring the gym bar brand from private equity firm Lion Capital for £200m, plans to operate Grenade as a separate business to “nurture its entrepreneurial spirit and maintain the authenticity of the brand”.
Its current leadership team, including Alan Barrett, will continue to run the business from its headquarters in the West Midlands and will retain a minority equity interest in the company.
Mondelez’s chairman and CEO, Dirk Van de Put, describes Grenade’s “on-trend products” as a “great platform for Mondelez 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 wellbeing,” he adds.