U.S. snacks big Mondelez has struck a deal to purchase sports activities diet model Grenade, because it seems to faucet into rising shopper demand for health-focused snacks, which has surged in the course of the COVID-19 pandemic-fueled lockdowns.
The deal marks Mondelez’s first acquisition within the U.Ok. since its controversial $19.5 billion takeover of U.Ok. chocolate maker Cadbury in 2010.
Based in 2010 by husband and spouse crew Alan and Juliet Barratt, Grenade makes a spread of sports activities diet merchandise, together with its well-liked Carb Killa protein bar, which Mondelez mentioned has been the corporate’s bestselling protein bar since 2011, with a rising presence within the U.Ok. and availability throughout different areas, together with North America and Asia Pacific.
Chicago-based Mondelez, which additionally owns the Oreo, Chips Ahoy, and Toblerone manufacturers, didn’t disclose a worth for the deal, which it mentioned permits the corporate to ship on its technique to be “a world chief in broader snacking, together with within the necessary space of well-being.”
Mondelez, which was spun out of shopper big Kraft in 2012, purchased wholesome snack and paleo chocolate maker Hu Master Holdings in January for an undisclosed sum. Earlier this month, Mondelez entered the premium biscuit and cracker market in Australia and New Zealand with the acquisition of Gourmet Food Holdings.
The corporate mentioned on Monday that it’s going to function Grenade individually to its different operations and can hold its present management crew. The Barratts will retain a minority stake as a part of the deal, which is predicted to finish later this yr.