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March 22, 2021

Mondelez International snaps up UK sports-nutrition firm Grenade

US snacks giant Mondelez International has swooped to acquire a well-known UK sports-nutrition business.

By Leonie Barrie

US snacks giant Mondelez International has swooped to acquire UK sports-nutrition business Grenade.

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Mondelez has acquired a “significant majority interest” in Grenade from UK-based private equity firm Lion Capital.

The deal, the first acquisition in the UK by Mondelez since it bought chocolate maker Cadbury in 2010, has been valued at around GBP200m (US$277.2m) by UK media outlets, quoting unnamed people close to the deal. This figure has not been confirmed by Mondelez.

Grenade, based in Solihull in the English Midlands, produces a range of products touted as better-for-you, including high-protein, low-sugar bars, shakes and drinks aimed at, but not exclusively for, the physically active.

In announcing the deal, Chicago-based Mondelez said it “enables expansion in broader snacking and fast-growing well-being segments”.

Grenade was founded by married couple Alan and Juliet Barratt in 2010. Lion bought it from fellow private equity firm Grovepoint in 2017 for GBP72m.

The Barratts, who will retain a “minority equity interest” in the business, will continue to run it under the ownership of Mondelez.

Mondelez described Grenade as “one of the category leaders in high-protein bars” and said the UK firm’s Carb Killa line “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”.

Dirk Van de Put, chairman and CEO of Mondelez, said: "Grenade's great-tasting, on-trend products are 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 well-being."

Alan Barratt, co-founder and CEO of Grenade, said: "When Jules and I founded Grenade from our spare bedroom with a budget of US$700, we dreamt of building an iconic brand available globally.

"This partnership with Mondelez 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." 

Mondelez 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 acquisition follows Mondelez's purchase two years ago of US-based Perfect Snacks, which makes refrigerated protein bars, for $284m.

Lion Capital has been linked with selling its stake in Grenade since late 2019.

Earlier this month, Mondelez entered what it calls the "premium" biscuit and cracker segment in Australia and New Zealand with an agreement to acquire Gourmet Food Holdings.

Related Companies

Free Whitepaper
img

What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.

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