CHICAGO — Mondelez International, Inc. has agreed to acquire Grenade, a maker of protein-centric bars, spreads, shakes and cookies that is headquartered in the United Kingdom and has a US office in Boise, Idaho. Terms of the agreement were not disclosed.
Grenade products are marketed under the Carb Killa banner. The leading products in the company’s portfolio are the bars and spreads. The bars feature 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 concentrate.
“Grenade’s great-tasting, on-trend products are a great platform for Mondelez International in the UK market and beyond,” said Dirk Van de Put, chairman and chief executive officer of Mondelez International. “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.”
Grenade was founded in 2010 by Alan and Juliet Barratt.
“When Jules and I founded Grenade from our spare bedroom with a budget of $700, we dreamt of building an iconic brand available globally,” said Mr. Barratt, CEO of Grenade. “This partnership with Mondelez 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.”
Mondelez said it plans to manage Grenade as a separate business unit to nurture its entrepreneurial spirit. The company’s current leadership team will remain in place. The acquisition is expected to close by the end of March.
The acquisition of Grenade will be Mondelez’s third in 2021. In early March, the company announced plans to acquire Gourmet Food Holdings Pty Ltd., Melbourne, Australia, a maker of biscuits and crackers. In January, Mondelez acquired Hu Master Holdings, the parent company of Hu Products, a maker of wellness-focused vegan and paleo-friendly snacks.