Clif Bar & Co. to be acquired by Mondelēz International
The acquisition builds on company’s strategy to prioritize fast-growing snacking segments in key geographies.
Mondelēz International, Inc. has announced an agreement to acquire Clif Bar & Company, U.S. maker of nutritious energy bars with organic ingredients, for $2.9 billion with additional contingent earnout consideration. The acquisition of on-trend brands CLIF, LUNA, and CLIF Kid expands Mondelēz International’s global snack bar business to more than $1 billion, including its complementary refrigerated snacking business PerfectSnacks in the U.S. and performance nutrition business Grenade in the U.K. This acquisition also advances the company’s strategy to reshape its portfolio to sustain higher long-term growth.
“We are thrilled to welcome Clif Bar & Company’s iconic brands and passionate employees into the Mondelēz International family,” said Dirk Van de Put, chairman and CEO of Mondelēz International. “This transaction further advances our ambition to lead the future of snacking by winning in chocolate, biscuits, and baked snacks as we continue to scale our high-growth snack bar business."