The US owner of legendary Birmingham chocolate brand Cadbury has acquired a sports nutrition firm.
Solihull-based Grenade has been bought by Mondelēz International, bringing into a family of food products which includes household names such as Belvita, Oreo and Philadelphia.
The latest deal will enable the couple to expand further their range of protein and energy snacks, drinks, powders, clothing and accessories.
Since launching, it has built up a loyal following and now secures 25 per cent of its sales from online channels alongside supply deals with major supermarket chains and sports retailers.
The Birmingham Post Business Awards are back for 2021 and now open for entries here. The event will be held online only on Tuesday June 15 and will celebrate businesses and individuals across 12 categories including our overall Company of the Year and a special covid award.
The deadline to enter the awards is Monday April 19 and sponsorship opportunities are also now available. Please email [email protected] for details and follow the hashtag #BPBAwards for updates on social media.
The ceremony will be hosted on our new virtual events platform The Awards Room which gives nominees and sponsors the chance to experience real-time networking and hear from speakers.
All of your attendees will be placed together on your own table and you can invite people from outside your group to join you during the event.
Your table will also have private chat, allowing you to communicate with your colleagues during the awards. For more information about our Business Awards and events please visit www.reachplcevents.com.
Mondelēz International said it planned to operate Grenade separately but would provide resources, support and international scale to help accelerate its growth.
The current senior leadership will continue to run the business and retain a minority equity stake.
Mr Barratt said: “When Jules and I founded Grenade from our spare bedroom with a budget of £500, 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.”
Mondelēz International’s chief executive Dirk Van de Put 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.”
Terms of the buyout were not disclosed.