The need for healthy, on-the-go snacks is always top-of-mind for shoppers as they hit the aisles, and that is something that Mondelēz International understands. To meet this ever-present demand, the company has announced its recent agreement to acquire a significant interest in Grenade, a leading U.K. performance nutrition brand known for its high protein bars. The deal is expected to close in late March, and details of the transaction were not disclosed.
“Grenade’s great-tasting, on-trend products are a great platform for Mondelēz International in the U.K. market and beyond,” said Dirk Van de Put, Chairman and Chief Executive Officer, 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.”
Grenade is a category leader in high-protein bars, with its Carb Killa® being a best-selling product since 2016 for the segment, according to a press release. Since its inception, the company has become one of the U.K.’s market leaders in snack bars with a 13 percent category share, making them an ideal partner for Mondelēz.
Due to its popularity, Grenade has not only increased its presence in the U.K., but has also expanded its availability across other regions including North America and Asia Pacific.
Grenade was founded by Alan and Juliet Barratt in 2010, and has seen solid growth and share gains, as well as a strong e-commerce presence with over 25 percent of its sales from online channels.
“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,” said Alan Barratt, Co-Founder and CEO of Grenade.
Over the years, Grenade has broadened its consumer base by launching new products that include high-protein, low-sugar bars as well as shakes, spreads, and cookies.
Through this new deal, Mondelēz International plans to operate Grenade separately to continue to hold on to its entrepreneurial spirit while maintaining the authenticity of the brand. The current senior leadership will continue to run the business from its headquarters in the U.K., and will retain a minority interest in the company.
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