Cadbury-owner Mondelez to buy UK protein bar brand Grenade for £200m
Mondelez, the US owner of Cadbury, is preparing to announce a £200m deal to buy British protein bar brand Grenade.
It has secured a deal with Grenade’s majority shareholder to buy the sports nutrition firm, Sky News reported.
The deal – which would be Mondelez’s most significant UK takeover since it acquired Cadbury in 2009 – could be announced as soon as today.
Grenade was founded in 2010 by husband-and-wife team Alan and Juliet Barrett, and sells its products in more than 80 countries. Its growth has soared amid consumer demand for health snacks.
Alan Barrett is the firm’s chief executive and a minority shareholder, meaning he is set for windfall following the sale.
Swedish private equity firm EQT, which supported Lion’s £72m acquisition of Grenade four years ago, also stands to cash in on the deal.
Mondelez is targeting growth in the healthy snacks market, having snapped up Hu, the maker of vegan and organic chocolate bars, in January.