Snack and confectionery multinational Mondelez has announced the acquisition of a majority stake in sports nutrition firm Grenade for an undisclosed sum.
Founder in 2010, Grenade is a manufacturer of sports nutrition products with a portfolio of high protein, low sugar products such as bars, shakes, and drinks with exports over 30 countries.
The partnership with Mondelez will give access to Grenade to more resources allowing the company to accelerate growth, while Mondelez strengthens its strategy to become a global leader in the snacking sector.
Dirk Van de Put, chairman and CEO at Mondelez International said, “Grenade’s great-tasting, on-trend products are a great platform for Mondelez International in the UK market and beyond.” Van de Put added, “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.”
The deal is expected to be closed by the end of March.
Source: Globe News Wire