Mondelez to buy energy bar maker Clif Bar for $2.9 billion
2022.06.20 23:56
Mondelez International logo and stock graph are seen displayed in this illustration picture taken July 26, 2021. Picture taken July 26, 2021. REUTERS/Dado Ruvic/Illustration
(Reuters) -Mondelez International Inc said on Monday it will buy energy bar maker Clif Bar & Company for $2.9 billion to expand its global snack bar business.
The Cadbury maker will also pay additional amounts to the sellers depending upon its earnings from Clif Bar, Mondelez (NASDAQ:MDLZ) said.
The company said it will get the Clif, Luna and Clif Kid brands of bars in its portfolio through the acquisition, creating a $1 billion-plus global snack bar franchise for itself.
Mondelez will continue to manufacture Clif’s products in its facilities at Twin Falls in Idaho and Indianapolis in Indiana, the company said.
