Mondelēz International has announced a deal to acquire a significant majority interest in Grenade, a leading UK performance nutrition pioneer in the fast-growing high protein bar segment, for an undisclosed sum.
One of the category leaders in high-protein bars, Grenade’s Carb Killa has been the best-selling product in the segment since 2016 with a growing presence in the UK and availability across other regions including North America and Asia Pacific.
“Grenade’s great-tasting, on-trend products are a great platform for Mondelēz International in the UK market and beyond,” said Dirk Van de Put, chairman and chief executive Officer, Mondelēz International. “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.”
Founded by Alan and Juliet Barratt in 2010, Grenade has broadened its consumer base and launched new products including high-protein, low-sugar bars and has innovated into new adjacencies including shakes, spreads and cookies over the years.
“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,” said Alan Barratt, co-founder and chief ewxecutive of Grenade.
Mondelēz said it plans to operate Grenade separately to “nurture its entrepreneurial spirit and maintain the authenticity of the brand”, while providing resources, support and international scale to help accelerate growth.
The current senior leadership, including Alan Barratt, will continue to run the business from its headquarters in the UK and will retain a minority equity interest in the company. The deal is expected to close by the end of March.
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