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Wednesday, September 22, 2021

Mondelez grabs Grenade in £200 million deal

Mondelez, the US owner of Cadbury, is finalising a £200m deal to buy the British protein bar brand Grenade.

The snack giant has secured approval of Grenade’s majority shareholder to buy the sports/gym nutrition firm.

The move is Mondelez’s first UK acquisition since purchasing Cadbury in 2010 and is line with comments made by CEO and Chairman Dirk Van de Put recently about targeting growth in health snacks as consumers seek more nutritious options.

Mr Van de Put 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 wellbeing.”

Grenade was launched in 2010 by husband-and-wife team Alan and Juliet Barrett from a spare bedroom, their goal to develop the country’s biggest sports nutrition brand.
Riding the wave of consumer demand for healthier snacks, it now sells into more than 80 countries.

Alan Barrett remains as the firm’s Chief Executive and a minority shareholder.

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