SOLIHULL protein bar maker Grenade have been bought by Mondelēz, the global firm that owns Cadbury’s.
The Solihull-based business was founded in 2010 by husband and wife Alan and Juliet Barratt who have seen its revenues grow to to more than £50million.
The deal, for a reported £200m, marks a tidy return for the current owner Lion Capital, which bought the company for £72m four years ago.
Grenade chief executive Alan Barratt, who retains a minority equity interest in the company, said: “When Jules and I founded Grenade from our spare bedroom with a budget of £700, we dreamt of building an iconic brand available globally.
“This partnership with Mondelēz 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.”
Grenade will continue to be operated separately and led from its West Midlands headquarters. Barratt and the senior leadership team will also remain in place.