Houlihan Lokey Advises Grenade Holdings Ltd

Houlihan Lokey is pleased to announce the sale of Grenade Holdings Ltd (Grenade), a portfolio company of Grovepoint Capital LLP (Grovepoint), to Lion Capital LLP (Lion) for £72 million. The transaction closed on March 6, 2017.

Founded in 2010 by husband-and-wife team Alan and Juliet Barratt, Grenade is a fast-growing, international active nutrition company and lifestyle brand based in Solihull, UK. Now selling products in more than 100 countries, the brand has grown at exceptional speed, appealing to professional athletes, fitness enthusiasts, and health-conscious consumers worldwide. The company has grown through distinctive branding and products that offer a unique combination of flavour and functional nutritional benefits. Grenade presents at the largest fitness exhibitions in the world and has a number of industry-leading products in major convenience stores and supermarkets. 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' SME Export Tracker.

Grovepoint is a principal investment firm that seeks to back and partner with exceptional management teams. In addition to deploying capital, Grovepoint brings extensive experience in growing businesses and works closely with its partners to create and unlock value. Lion 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 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 Weetabix, Kettle Chips, and Orangina-Schweppes.

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.

Co-founders Alan and Juliet Barratt will continue to lead the business as Chief Executive Officer and Chief Marketing Officer, respectively, alongside Chief Financial Officer and Sales Director Tom Murphy, who joined the business in 2014.