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Lion Capital invests in Grenade London, 6 March 2017 – Lion Capital LLP (“Lion”), a consumer-focused private equity firm known for its experience investing in leading international brands including Weetabix, Kettle Chips and Orangina-Schweppes, has agreed to acquire a majority stake in Grenade Holdings Limited (“Grenade”) from Grovepoint Capital LLP (“Grovepoint”) and Grenade’s founders. The transaction values the business at £72 million. Grenade is a fast-growing international active nutrition company and lifestyle brand based in Solihull, UK. The company was founded in 2010 by husband-and-wife team Alan and Juliet Barratt, following which it has grown at exceptional speed. Grenade’s success has made it one of the UK’s fastest growing companies. The Sunday Times has included Grenade in its Fast Track Top 100 for the past three years running and in February 2017 it was listed at number 40 in The Sunday Times’s SME Export Tracker. Grovepoint and Grenade have enjoyed three successful years of growth. At the start of their partnership, Grenade offered just six products, primarily sold through specialist retailers. Since then, the company has successfully launched a variety of new products, including its signature ‘Carb Killa’ range of high protein bars and drinks, and expanded distribution into mainstream convenience and grocery channels in the UK and abroad. The company’s healthy, functional snacking products and supplements are now sold in over 100 countries. 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. James Cocker, Partner, Lion Capital said: “Grenade has enjoyed exceptional growth over the past few years, driven by a 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 see opportunities for growth not just in the current product range but also through product and channel extension, and international expansion. Our proven track record of working with international brands makes this a perfect fit with our investment strategy, and we look forward to working with Alan, Juliet and Tom to help Grenade capitalise on its tremendous potential.” Avital Lobel, Partner and Head of Principal Investments, Grovepoint said: “We are proud to have been part of the journey with Alan, Juliet, Tom and the team in 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 its segment. Grenade has an exciting future ahead of it and we wish the company and Lion Capital every success.” Alan Barratt, Co-Founder & CEO, Grenade said: “It has been an amazing seven years since Juliet and I first launched Grenade but really we are just getting started on our journey to build a global lifestyle brand. Our team remains dedicated to innovating and creating the best products possible and we are excited to be partnering with Lion Capital. Lion’s successful track record of working with global mega-brands and their understanding of our business made them a clear choice as partners for the next phase of our growth. We would also like to mention what an absolute pleasure it has been to work with Avital and the team at Grovepoint over the last three years. They are some of the most intelligent and hardworking people we have ever met. They backed us when we were just a small team of six people, and have always been supportive of our creative ideas and objectives. We will be friends for life and wish them every success in their future investments.” Grovepoint and the existing shareholders were advised by Houlihan Lokey, DLA Piper and Deloitte. Lion Capital was advised by Stamford Partners, Proskauer, PwC and Parthenon-EY. Ends For further information, please contact: For Lion Capital: Shona Prendergast / Rory King Montfort Communications +44 (0) 7789 626284 / +44 (0) 7917 086227 [email protected] About Lion Capital Lion Capital is a consumer-focused investor passionate about driving growth through strong brands. With offices in Los Angeles and London, the firm’s principals have led the investment of €6 billion in more than 30 businesses and more than 100 consumer brands across North America and Europe. Lion’s focus on market-leading consumer-facing companies has led to investments in such well-known brands as Kettle Foods, Jimmy Choo, ghd and AllSaints. For more information, please visit www.lioncapital.com. About Grenade Grenade is an innovative British company which has grown rapidly since its launch in 2010. Now selling Grenade products in over 100 countries, the brand has a huge following, spanning professional athletes, fitness enthusiasts and health-conscious consumers worldwide. Grenade exhibits at the largest fitness exhibitions in the world and has a number of industry-leading products in major convenience stores and supermarkets. Supported by its ‘Team Grenade’ athletes Grenade is renowned for its highly distinctive branding and marketing strategies. For more information, please visit www.grenade.com.