We investigate a simple model of a frustrated classical spin chain coupled to adiabatic phonons under an external magnetic field. A thorough study of the magnetization properties is carried out both numerically and analytically. We show that already a moderate coupling with the lattice can stabilize a plateau at 1/3 of the saturation and discuss the deformation of the underlying lattice in this phase. We also study the transition to saturation where either a first- or second-order transition can occur, depending on the coupling's strength.Facultad de Ciencias Exactas