Sports nutrition brand Grenade detonates growth plan after funding deal

COVENTRY-based sports nutrition business Grenade has secured new growth capital in order to help with its expansion.

The firm, which was founded in 2009 and develops and markets a range of own-brand sports nutrition products for both the UK and international markets, has secured investment from Grovepoint Capital in a deal led by international investment bank, Altium.
 
This is Altium’s latest transaction in the sports nutrition market following the sale of sports supplements business CNP Professional to First Milk in 2012 and the sale of online retailer Myprotein.com to The Hut Group, the previous year.  
 
Grenade is supporting growth by continually developing its product range and reach into global markets. Overseas orders are expected to soar in the run-up to this summer’s World Cup and the 2016 Olympic Games, both in Brazil.

International sales now account for 39.6% of the firm’s total revenue and the company has recently agreed a contract with 320 Walmart stores in Canada. Other stockists include Tesco, Amazon.co.uk and BodyBuilding.com.
 
One of its best selling products is fat burner Grenade® Thermo Detonator. The firm said the item was one of the world’s fastest growing weight loss products, with sales in over 100 countries.
 
Grenade’s founders, Alan and Juliet Barratt, will maintain an ongoing role in the company and work with Grovepoint to help strengthen the company’s position as a leading sports nutrition brand. Kevin Peters, formerly of Maximuscle, will be joining the board of the company as a result of the investment.  
 
Alan Barratt, who co-founded the business, said: “Since 2009, we have established a tight, focused range of products that can service the needs of a range of consumers in the sports nutrition market. We have also developed excellent relationships with our distributors and suppliers and we are looking forward to working with Grovepoint to expand the business globally. Our focus has not changed in the sense that we want to continue to make world class products that our consumers benefit from.”
 
Managing director Simon Lord led the advisory team at Altium with support from assistant director, Dominic Orsini.
 
Lord said: “Grenade has had huge success developing its position as a leader in the pre-workout and weight loss segments of the sports nutrition market. The investment from Grovepoint will allow the business to further develop its product range and capitalize on the brand’s global growth.”