We’re thrilled to announce that we’ve reached an agreement with Mondelēz International, who will acquire a significant majority interest in Grenade.
With Grenade already leaders in the fast-growing protein bar segment – with Carb Killa the best-selling protein bar in the UK since 2016 – the acquisition will allow us to accelerate growth, as we enter an exciting new chapter in the business’ history.
Grenade was founded by Alan and Juliet Barratt in 2010 with a simple mission to become the number one brand in sports nutrition products. Since then, we’ve broadened our consumer base and launched new products including high-protein, low-sugar bars and have innovated into new adjacencies including shakes, and spreads.
With strong historic performance, solid growth and share gains, we’ve also built up a strong eCommerce presence, with approximately 24 percent of its sales from online channels.
Alan Barratt, co-founder and CEO of Grenade commented, “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,”
Dirk Van de Put, Chairman & Chief Executive Officer, Mondelēz International added, “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.”
Importantly, Mondelēz International plans to operate Grenade separately, nurturing our entrepreneurial spirit and allowing us to maintain the authenticity of the brand, while providing resources, support and international scale to help accelerate growth. The current senior leadership, including our co-founder and CEO 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.