Grenade has expanded beyond the gym market by balancing the science of sports nutrition with indulgent flavours Mainstream “Grenade has really done well in positioning itself not just as sports nutrition but as a lifestyle brand, becoming much more accessible for consumers.”Īnd not just the die-hard gym bunnies upping their protein intake, but everyday consumers increasingly on the lookout for healthier alternatives to chocolate bars. So how has a brand that started selling fat-burning pills to gym buffs managed to become the leading force in the sports nutrition and confectionery sector?īrand positioning was key, says Vita Coco CEO Giles Brook. However, Graze’s sales growth had stalled as the sales process took off, while Grenade is continuing to post double-digit rises in annual revenues.
Former owner Carlyle had initially eyed a selling price of around £300m - more than four times its annual sales of £71.8m - before settling for the lower sum in a tricky market for selling UK assets. One caveat is the more-sober-than-hoped-for valuation of snack bar Graze in its £150m sale to Unilever earlier this year, which also attracted interest from Kellogg’s. Īll this growth adds up to a hefty price tag.Ĭity sources told The Grocer they expect Grenade to command a price of around five times its current annual sales, potentially valuing it at £200m. And Grenade’s hero range Carb Killa is outselling all other chocolate bar brands in the UK, except for Cadbury’s Darkmilk. On protein bars alone, Grenade is now the number one brand in the UK, worth £23.4m and growing at 101% year on year. An expanding range and listings in all the major UK retailers means revenues of £40m are expected for 2018. Grenade has already generated plenty of City interest in its short life, having first been acquired by Grovepoint Capital in 2014 for £35m, and then by Lion in 2017 for more than double that valuation at £72m.īut a trade sale looks inevitable as fmcg players look to update their portfolios. Bang on trend, sales of protein brand Grenade are booming, and a raft of consumer goods giants are expected to come knocking after private equity owner Lion Capital appointed Harris Williams to explore a potential multimillion-pound sale of the brand, just two years after acquiring a majority stake.
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