Tue, 23 Mar 2021 | BUSINESS SALE
Mondelez has acquired protein snack bar maker Grenade for £200 million, a 40x multiple on the company’s 2019 profits of £5 million and a near 4x multiple on its £51.6 million turnover. The fee also represents a more than 2.7x return on the £72 million investment majority shareholder Lion Capital made in the business in 2017.
Grenade was founded in 2010 and has experienced rapid growth in recent years as its high-protein bars tapped into growing demand for healthier snacking. The company’s £51.6 million 2019 revenue was up more than 37 per cent from the year before and its Carb Killa bar has been the UK’s best-selling protein bar for the past five years.
The company now markets in more than 80 countries worldwide and has sold well in excess of 100 million bars so far.
Co-founder Alan Barrett remained the company’s chief executive and a minority shareholder in the wake of Lion’s 2017 takeover, in which the investor was backed by Swedish private-equity firm EQT.
Following the Mondelez acquisition, the brand will continue to operate separately, with Barrett remaining in place as chief executive and retaining an equity interest.
The acquisition is part of Mondelez’s drive to expand into healthier snacking as customers increasingly turn to nutritious products. In recent years, the company has acquired US-based healthy snacking brands Hu and Perfect Snacks.
The Grenade deal is Mondelez’s most significant UK investment since its controversial acquisition of Cadbury in 2010, at which point it was still operating as part of the Kraft group.
Clive Jones, Mondelez President for Northern Europe, said: “Performance nutrition and low sugar options are becoming mainstream. This reflects the intention of Mondelez to build a broader portfolio to stretch across snacking and particularly move into high-growth wellbeing segments.”
Find businesses for sale here.
If you are looking for an exit, we can help!
Specialises in the provision of a range of premium pastries, hot and cold snacks, speciality cakes and freshly baked breads for major supermarkets and local businesses across the North East.
LEASEHOLD
Well-established business operating for over 83 years. All meat is sourced from local farms around the North West.
LEASEHOLD
Currently operating as a profitable Indian Restaurant on a prime location in the heart of Brick Lane in East London. Located in the centre of the largest footfall in the area.
LEASEHOLD
|
21
|
|
Apr
|
English vineyard business put up for sale | BUSINESS SALE
A specialist English Pinot Noir vineyard in Worcestershire h...
|
20
|
|
Apr
|
Administrators appointed as UK logistics firm collapses | ADMINISTRATION
West Bromwich-based courier and logistics firm New Generatio...
|
20
|
|
Apr
|
Company insolvencies begin to rise in March as pandemic impact shows | BUSINESS NEWS
Government figures show that UK company insolvencies rose 44...
Sign up to receive our acquisition alert emails to get your FREE guide
|
22
|
|
Jan
|
Possible sale of horsemeat scandal company Findus | DIVISION SALE
Reports suggest that the frozen food firm Findus has begun d...
|
12
|
|
Feb
|
GHD sold to private equity group | BUSINESS SALE
Hair straightener firm GHD has passed to private equity firm...
|
28
|
|
Dec
|
La Senza to be put into administration in the new year | ADMINISTRATION
Lingerie retailer La Senza is due to be fitted into administ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources