Clif Bar

Clif Bar - Specializes in energy bars and is the U.S. leader in this segment.

History

2022: Mondelez bought Clif Bar for $2.9 billion

On June 20, 2022, Mondelez announced an agreement to acquire the American manufacturer of nutritious energy bars with organic ingredients Clif Bar for $2.9 billion in additional conditional remuneration. The acquisition of the company is expected to close in the third quarter of 2022.

The acquisition of leading trend brands Clif, Luna and Clif Kid expands Mondelez's global snack business to more than $1 billion, including complementary and leading refrigerated snack business Perfect Snacks in the US, as well as Grenade's UK food business. This acquisition also contributes to Mondelez's strategy of reorganizing its portfolio to support higher long-term growth.

Mondelez bought Clif Bar for $2.9 billion

{{quote 'We're excited to welcome iconic brands and keen Clif Bar employees into the Mondelez family! This deal further reinforces our ambitions to lead the future of snacks, winning chocolate, biscuits and baked snacks, and continuing to expand our fast-growing business. As a leader and innovator in healthy eating and sustainable snacks in the U.S., Clif Bar embodies our goal and we look forward to continuing this important work with dedicated colleagues, "said Mondelez Board Chairman and CEO Dirk Van de Put. }} Mondelez expects the deal to drive sales growth in 2023 and create cost synergies by leveraging the company's global and North American scale to expand Clif's sales distribution and further penetrate existing and new U.S. customers and channels. Mondelez will continue to run the Clif Bar business from its California headquarters, developing an entrepreneurial spirit and maintaining the brand's purpose and authenticity. The company will also continue to produce its products at its Twin Falls and Indianapolis facilities.^[1]

Notes