Mondelēz International to Acquire Clif Bar & Company
The move will create cost synergies by using Mondelez International’s global and North American scale to expand Clif’s sales distribution
Mondelēz International, Inc. announced an agreement to acquire Clif Bar & Company, leading US maker of nutritious energy bars with organic ingredients, for $2.9 billion with additional contingent earnout consideration. The acquisition of leading on-trend brands CLIF®, LUNA® and CLIF Kid® expands Mondelēz International’s global snack bar business to more than $1 billion, including its complementary and leading refrigerated snacking business Perfect Snacks in the US and leading performance nutrition business Grenade in the UK. This acquisition also advances the company’s strategy to reshape its portfolio to sustain higher long-term growth.
The transaction is expected to be top-line accretive in year two and create cost synergies by using Mondelez International’s global and North American scale to expand Clif’s sales distribution and gain further penetration in existing and new customers and channels in the US.