MONDELĒZ International Announces Agreement to Acquire Clif Bar & Company

Jun 21, 2022 By MarketDepth

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MONDELĒZ International, Inc. (NASDAQ: MDLZ) reported an agreement to acquire Clif Bar & Company for USD 2.9 Billion with an additional contingent earnout consideration.  With brands such as CLIF, LUNA and CLIF Kid, this expands the company’s global snack bar business to over USD 1 Billion, including complementary and refrigerated snacking business Perfect Snacks.  “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. As a leader and innovator in well-being and sustainable snacking in the U.S, Clif Bar & Company embodies our purpose to ‘empower people to snack right’ and we look forward to advancing this important work with Clif’s committed colleagues in the years ahead.”

“Mondelēz International is the right partner at the right time to support Clif in our next chapter of growth. Our purposes and cultures are aligned and being part of a global snacking company with broad product offerings can help us accelerate our growth while staying true to our deeply ingrained Five Aspirations – sustaining our people, planet, community, business, and brands – five bottom lines that have grounded our company since its founding and will remain our North Star going forward.”

Sally Grimes, Chief Executive Officer, Clif Bar & Company