Mondelez closes deal for Clif Bar

0
40

CHICAGO — Mondelez International, Inc. On Aug. 1, it completed its acquisition of California-based Clif Bar & Co. for $2.9 billion. The deal closed less than two months after it announced for the first time.

Prior to the announcement, Mondelez had about $300 million in snack sales. With the addition of Clif Bar, the company’s bar business will exceed $1 billion in revenue.

“We are delighted to officially welcome Clif Bar & Co. to our Mondelez International team,” said Dirk Van de Putt, Chairman and Chief Executive Officer of Mondelez International. “We’re excited about the opportunity to expand our shared passion for delivering great-tasting snacks that support busy lifestyles while helping to reduce our impact on the planet.”

Mondelez said it will continue to manage the Clif Bar & Co business. from its headquarters in Emeryville with manufacturing facilities in Twin Falls, Idaho and Indianapolis. The acquisition includes the Clif, Luna and Clif Kid brands.

The acquisition of Clif Bar builds on Mondelez’s continued prioritization of fast-growing snack segments in key regions. By this time in 2022, Mondelez hasannounced the agreementacquire Ricolino, Mexico’s leading confectionery company, from Grupo Bimbo and close and fully integrateits acquisitionChipita SA, the leader in the category of cakes and pastries in Central and Eastern Europe.

Mondelez closes deal for Clif Bar

Source link Mondelez closes deal for Clif Bar