CHICAGO — Mondelez International, Inc. on Aug. 1 completed its acquisition of Emeryville, Calif.-based Clif Bar & Co. for $2.9 billion. The transaction’s closing comes less than two months after it was first announced.
Prior to the announcement, Mondelez’s snack bar business generated approximately $300 million in sales. With the addition of Clif Bar the company’s bar business will exceed $1 billion in revenues.
“We are delighted to formally welcome Clif Bar & Co. into our Mondelez International team,” said Dirk Van de Put, chairman and chief executive officer of Mondelez International. “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.”
Mondelez said it will continue to operate the Clif Bar & Co. business from its headquarters in Emeryville with manufacturing operations in its facilities in Twin Falls, Idaho, and Indianapolis. The acquisition includes the Clif, Luna and Clif Kid brands.The acquisition of Clif Bar builds upon Mondelez’s continued prioritization of fast-growing snacking segments in key geographies. So far in 2022, Mondelez hasannounced an agreementto acquire Ricolino, Mexico’s leading confectionery company, from Grupo Bimbo and closed and fully integratedits acquisitionof Chipita S.A., a leader in the Central and Eastern European snack-size cakes and pastries category.