Cadbury owner Mondelez swoops for fast-growing food brand Grenade

The founders of protein bar maker Grenade plan to pull the pin on its ambitions to become an iconic global brand after the company was bought by Cadbury’s owner Mondelēz.

The Solihull-based business was founded in 2010 by husband and wife Alan and Juliet Barratt and has grown its annual revenues to more than £50m, with around one-quarter coming from online sales.

The deal is for a reported £200m and will see current owner Lion Capital exit, four years after buying the company for £72m.

Grenade chief executive Alan Barratt, who retains a minority equity interest in the company, said: “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.”

Grenade will continue to be operated separately and led from its West Midlands headquarters. Barratt and the senior leadership team will also remain in place.

Dirk Van de Put, chairman and chief executive of Mondelēz International added: “Grenade’s great-tasting, on-trend products are a great platform for Mondelēz 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.”