Mondelez acquires Solihull-based nutrition brand
Cadbury owner Mondelez International has acquired a “majority interest ” in fast-growing Solihull performance nutrition brand Grenade.
Grenade was founded by Alan and Juliet Barratt in 2010 and has enjoyed rapid growth in the performance nutrition sector, with its Carb Killa� protein bar becoming a best-seller.
Grenade chief executive Alan Barratt (pictured), 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 Mondel?z 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 headquarters in Hampton-in-Arden.
Barratt and the senior leadership team will also remain in place.
Dirk Van de Put, chairman and chief executive of Mondel?z International added: “Grenade 's great-tasting, on-trend products are a great platform for Mondel?z 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. ”