Download Lion Capital invests in Grenade

 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.