Mondelēz International Inc. said it has entered into an agreement to acquire a majority interest in Grenade, a UK-based maker of high-protein bars. Terms of the transaction were not disclosed.
Grenade is reportedly one of the category leaders in high-protein bars. Its 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 Mondelez chairman and chief execute ve Dirk Van de Put. “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.”
Grenade was founded by Alan and Juliet Barratt in 2010 with a mission to become the No. 1 brand in sports nutrition products. The brand has a strong e-commerce presence from which 25% of its sales originate.
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.
Mondelēz said it plans to operate Grenade separately. 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.
