Grenade, the UK sports-nutrition supplier, is making a concerted push into select European markets through new distributors.
The company is targeting higher sales in Germany, the Netherlands, Switzerland and Scandinavia as part of its “first strategic approach” for the markets.
In Germany, Hamburg-based distributor Columbus Drinks will launch the UK firm’s Carb Killa protein bars and shakes, as well as its Grenade Energy drinks, in October.
The same month, Fazer Group, one of Finland’s largest food manufacturers, will distribute the Carb Killa bars in its home market, plus Denmark, Sweden and Russia.
In Switzerland, Grenade is working with Lenzburg-based distributor Dabso, which handles UK brands including Fisherman’s Friend and Propercorn in the country.
Grenade’s new distributor for the Netherlands is importer Lemar.
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Two months ago, Grenade, in which private-equity firm Lion Capital has a majority stake, entered Australia through listings with Woolworths, the country’s largest grocer, for bars and biscuits sold under the Carb Killa brand.
Last August, UK daily newspaper The Daily Telegraph reported Grenade, based in the English Midlands, was being lined up for a sale. Lion Capital bought its majority stake in Grenade in 2017 from the company’s founders and fellow private-equity firm Grovepoint Capital in a deal that valued the protein bars and shakes supplier at GBP72m (US$94.5m).
At the time, when approached by just-food, Lion Capital and Grenade declined to comment but this publication understood sell-side advisers were appointed in the shape of Harris Williams. The US investment bank declined to comment.
Asked today for an update on the process, Grenade declined to comment.