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Mondelēz International, Inc. has 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.
Mondelēz International will continue to operate the Clif Bar & Company business from its headquarters in Emeryville, CA, nurturing its entrepreneurial spirit and maintaining the brand’s purpose and authenticity. The company will also continue to manufacture its products in its facilities in Twin Falls, ID, and Indianapolis, IN.