The US owner of legendary Birmingham chocolate brand Cadbury has acquired a sports nutrition firm.
Solihull-based Grenade has been bought by Mondelēz International, bringing it into a family of food products which includes household names such as Belvita, Oreo and Philadelphia.
Grenade was founded by husband and wife team Alan and Juliet Barratt in 2010, since when it has undergone two private equity buyouts by Grovepoint Capital in 2014 and Lion Capital three years later.
The latest deal will enable the couple to expand further their range of protein and energy snacks, drinks, powders, clothing and accessories.
Since launching, it has built up a loyal following and now secures 25 per cent of its sales from online channels alongside supply deals with major supermarket chains and sports retailers.
Mondelēz International said it planned to operate Grenade separately but would provide resources, support and international scale to help accelerate its growth.
The current senior leadership will continue to run the business and retain a minority equity stake.
Mr Barratt said: "When Jules and I founded Grenade from our spare bedroom with a budget of £500, we dreamt of building an iconic brand available globally.
"This partnership with Mondelēz International gives us access to enormous resource and capability to help make those aspirations a reality and I couldn't be more excited about our future growth and continued innovation."
Mondelēz International's chief executive Dirk Van de Put added: "Grenade's great-tasting, on-trend products are a great platform for Mondelēz International in the UK market and beyond.
"This is another exciting opportunity to deliver on our strategy to be a global leader in broader snacking, including in the important area of well being."
Terms of the buyout were not disclosed.
