On 6 March, our client, Lion Capital, acquired Grenade, a fast-growing player in the active nutrition and sports nutrition categories for £72m.
The UK sports nutrition market has experienced double digit growth in the past 10 years, and has transitioned from niche to mainstream, largely driven by the increased consumption of high protein products. Between 2010 and 2015, the number of NPD with a high protein claim has risen by 498%.
Based in West Midlands and established in 2009, Grenade develops, markets and sells a range of active nutrition and sports nutrition products (including bars and drinks, weight management, pre/intra/post workout and protein powders and wellness) in the UK and international markets. Over the past two years the Company has successfully launched its signature Carb Killa range of protein bars and shakes to the mass market, resulting in exceptional growth and leading to the Company being ranked in the Sunday Times Fast Track Top 100 in 2015 and 2016 and in the SME Export Track Top 100 in 2016.