|
April 1, 2021: 12:00 AM EST
In 2019, Mondelēz passed up a chance to buy U.K. protein snack bar brand Grenade. But, late last month, and following other major Big Chocolate acquisitions of healthy snack companies like KIND (Mars) and Eat Natural (Ferro), Mondelēz bought a majority interest in Grenade for £200 million ($276 million). Why the reversal? According to a Rothschild analyst, in two years Grenade grew dramatically and moved from a purely sports nutrition brand to the mainstream, where it has become a category leader. Under Mondelēz, Grenade has the potential to grow much more, and continue to take share away from traditional chocolate countline bars. Another observer noted the “perfect timing” of the deal: Grenade was reaching a saturation point in the U.K., and Mondelēz can now ramp up distribution worldwide. A significant positive sign for Mondelēz was the fact that Grenade sold well during the pandemic, thanks to its entrenched ecommerce audience.
Daniel Woolfson, Edward Devlin, "Why Big Chocolate is snapping up healthier snacking brands like Grenade, Kind and Eat Natural", thegrocer.co.uk, April 01, 2021, © William Reed Business Media Ltd
|
Domains
FOOD BUSINESS NEWS
Market Segments
News
Companies
Market News
Strategy
Savory Snacks
Geographies
Worldwide
EMEA
Europe
United Kingdom
Categories
Business News
Companies
Companies, Organizations
Deals, M&A, JVs, Licensing
|