CHICAGO Mondelez International, Inc. has agreed to buy Grenade, a UK-based manufacturer of protein-based bars, proteins, shakes and biscuits that has a US office in Boise, Idaho. The terms of the agreement were not disclosed.
Grenade products are traded under the Carb Killa flag. The main products in the companies portfolio are bars and spreads. The bars contain approximately 23 grams of protein per serving and are formulated with a combination of calcium caseinate, milk protein isolate, whey protein isolate and soy protein isolate. The spreads have 7 grams of protein per serving and are formulated with whey protein concentrates.
Excellent grenades and trendy products are an excellent platform for Mondelez International in the UK market and beyond, said Dirk Van de Put, President and CEO of Mondelez International. This is another exciting opportunity to deliver our strategy to be a global leader in the wider snack, including the important area of well-being.
The grenade was founded in 2010 by Alan and Juliet Barratt.
When Jules and I founded Grenade from our spare bedroom on a budget of $ 700, we dreamed of building an iconic brand available globally, said Mr. Barratt, CEO of Grenade. This partnership with Mondelez International gives us the opportunity of great resources and capabilities to help those aspirations become a reality and I can no longer be excited about our future growth and ongoing innovation.
Mondelez said she plans to manage Grenade as a separate business unit to nurture her entrepreneurial spirit. The current enterprise management team will remain in place. The acquisition is expected to close in late March.
The acquisition of Grenade will be the third in Mondelezs in 2021. In early March, the company announced plans to acquire Gourmet Food Holdings Pty Ltd., Melbourne, Australia, a manufacturer of biscuits and crackers. In January, Mondelez acquired Hu Master Holdings, the parent company of Hu Products, a maker of healthy vegan and paleo-friendly meals.
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