Mondelez completes US$2.9b CLIF acquisition

USA— American multinational snack and food company Mondelez International, Inc. has finalized its US$2.9 billion purchase of leading U.S organic energy bar and drinks maker Clif Bar & Co.

With the acquisition, Mondelēz plans to add Clif, Luna, and Clif Kid brands of bars to its portfolio, creating a US$1 billion-plus global snack bar franchise for itself. This acquisition also advances the company’s strategy to reshape its portfolio to deliver higher and sustainable growth.

“We are delighted to formally welcome Clif Bar & Co. into our Mondelez International team,” said Dirk Van de Put, chairman and CEO of Mondelez. “We’re excited about the opportunity to advance our shared passion for delivering great-tasting snacks that help fuel busy lifestyles, while helping to reduce our impact on the planet.”

The acquisition of Clif Bar & Company builds upon Mondelēz International’s continued prioritization of fast-growing snacking segments in key geographies across Asia, Australia, The Americas and Europe.

With the acquisition, Mondelēz plans to add Clif, Luna, and Clif Kid brands of bars to its portfolio, creating a US$1 billion-plus global snack bar franchise for itself

In 2022 thus far, the company has acquired Ricolino, Mexico’s top confectionary company, from Grupo Bimbo and concluded its acquisition of Chipita S.A., a frontrunner in the Central and Eastern European snack size cakes and pastries category.

This follows a year of strong global growth in the snacking segment in 2021, owing to the acquisitions of Grenade, a leading U.K. performance nutrition company; Gourmet Food Holdings, a leading Australian food company in the attractive premium biscuit and cracker category; and Hu, a well-being snacking company in the U.S.

Sally Grimes, Chief Executive Officer, Clif Bar & Company said: “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.”

Clif Bar will continue to operate from its headquarters in Emeryville, California, and will also carry on with its manufacturing operations in Idaho and Indiana.

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