Grenade gets valued at £72m
Grenade is a fast-growing international active nutrition company based in Solihull which was started back in 2010 by husband-and-wife duo Alan and Juliet Barratt.
The company has grown rapidly since its launch, attracting millions of pounds’ worth of investment and expanding into 100 different markets across the globe.
This rapid growth has made it one of the UK’s fastest growing companies, with the company placed in the Sunday Times Fast Track Top 100 for the past three years running and being listed at No. 40 in last month’s Sunday Times SME Export Tracker.
Now the company is set for further growth after investment group Lion Capital LLP purchased a multi-million-pound stake in the company from Grovepoint Capital and Grenade’s founders Alan and Juliet.
Lion, which is a consumer-focused private equity firm, is well known for investing in high growth consumer brands following its investments into brands such as Weetabix, Kettle Chips and Orangina-Schweppes. Now, the company will be hoping Grenade keeps up its strong track record.
James Cocker, a partner at Lion Capital, said: “Grenade has enjoyed exceptional growth over the past few years, driven by an exciting and distinctive brand and products which offer a unique combination of flavour and functional nutritional benefits.
“We have followed the business for some time and believe it is one of the most innovative players in this high-growth segment with a product offering that is exceptionally well-aligned with multiple consumer trends. We look forward to working with Alan, Juliet and Tom to help Grenade capitalise on its tremendous potential.”
The team behind the business will continue their involvement for the next stage of its growth following Lion’s investment. Co-founders Alan and Juliet Barratt will continue to lead the business as CEO and chief marketing officer, respectively, alongside CFO and sales director Tom Murphy, who joined the business in 2014.
Alan Barratt, co-founder and CEO of Grenade, said: “It's been an amazing seven years since Juliet and I first launched Grenade but we really are just getting started in regard to building a global lifestyle brand.
“Our team will remain dedicated to innovating and manufacturing the best products possible and are excited to be partnering with Lion Capital for our next phase of growth, both in the U.K. and overseas.”
Grovepoint and Grenade have enjoyed a successful three-year partnership. Grovepoint invested in Grenade in February 2014, when the company offered just six products, primarily sold through specialist retailers.
Over the past three years, Grenade has successfully launched a variety of new products, including its signature ‘Carb Killa’ range of high protein bars and drinks, and expanded distribution rapidly into mainstream convenience and grocery channels in the UK and abroad.
Avital Lobel, partner and head of principal investments at Grovepoint added: “We are proud to have been part of the journey with Alan, Juliet and the team of growing Grenade into the market leading brand that it is today.
“During the three years of our partnership, we have seen Grenade transform the range and distribution of its products to become one of the most exceptional FMCG brands in the market.
“Grenade has an exciting future ahead of it and we wish the Company and Lion Capital every success.”
Published: 07 March 2017