Grenadier was founded in 1975 by Andrew Chernack and Ray Rubin. Its first line of miniatures was the American Revolution Line released for the Bi-Centennial.

In the 1980s, Grenadier also released miniatures for Masters of the Universe, Car Wars (Auto Duel), O.G.R.E., and Paranoia.

In the 1990s to compete with Citadel miniatures and to cut down on distribution costs, Grenadier Models U.K. became the prominent producer of new designs and releases for the company.

Representatives of Grenadier announced at GenCon in August of 1996 that Grenadier Models, Inc. had gone out of business.

Among collectors of miniatures and old-time gamers who were along for the exciting ride of role-playing games and war games in their heydays of the late 1970s through the mid-1980s, Grenadier was the most popular, recognizable, and accommodating miniatures company around. Without a doubt, Grenadier Models in its twenty years of business manufactured more miniatures, more exclusive lines, and more types of miniatures than any other gaming miniatures company in history. Grenadier's unsurpassed quality is rivaled only by its unsurpassed longevity.