Lion Capital snaps up protein bar maker Grenade

Lion Capital bought Grenade from investment firm Grovepoint and Grenade's founders. The deal marks the second investment from Lion Capital's Fund IV after the acquisition of café chain Loungers in December 2016.

Fund IV is currently fundraising, while the GP's Fund III, which made its latest deal in May 2016, raised £1.5bn. The LP is known for its previous investments in brands such as Weetabix, Kettle Chips and Orangina-Schweppes (all now exited).

It is understood Grenade's turnover increased fivefold during Grovepoint's three-year partnership with the founders.

"We see opportunities for growth not just in the current product range but also through product and channel extension, and international expansion," said Lion Capital partner James Cocker.

Company
Grenade is a nutrition company founded in 2010 by husband-and-wife team Alan and Juliet Baratt. It is based in Solihull and employs between 20-30 staff.

The founders will continue to lead the business after the buyout.

People
Grenade – Alan Barratt (CEO); Juliet Barratt (chief marketing officer); Tom Murphy (sales director).
Lion Capital – James Cocker (partner).
Grovepoint – Avital Lobel (partner, head of principal investments).

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• Topics
• Buyouts
• Exits
• UK / Ireland
• Consumer
• Secondary buyout
• Lion Capital