Mondelēz announced an agreement to acquire Clif Bar, a leading U.S. maker of energy bars with organic ingredients, for $2.9 billion with additional contingent earnout consideration.
The acquisition of brands CLIF, LUNA and CLIF Kid expands Mondelēz International’s global snack bar business to more than $1 billion, including its refrigerated snacking business Perfect Snacks in the U.S. and performance nutrition business Grenade in the U.K. This acquisition also advances the company’s strategy to reshape its portfolio to sustain higher long-term growth.