Mondelēz International has acquired Grenade, a UK-based performance nutrition pioneer in the fast-growing high protein bar segment for an undisclosed amount.
Grenade was founded by Alan and Juliet Barratt in 2010 with a simple mission to become the number one brand in sports nutrition products.
With strong historic performance, solid growth and share gains, Grenade has a strong eCommerce presence with approximately 25% of its sales from online channels.
Moreover, its Carb Killa high protein bar has been the best-selling product in the segment since 2016.
Over the years, 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.
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 & CEO of 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.”
Mondelēz International 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.