Mondelēz International, Inc. has completed the acquisition of Clif Bar & Co.
The acquisition expands Mondelēz International’s global snack bar business to more than $1 billion, with leading brands including CLIF, CLIF Kid and LUNA complementing the company’s Perfect Snacks business in the U.S. and Grenade in the U.K.
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 Mondelēz International team,” said Dirk Van de Put, chairman and CEO of Mondelēz 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.”
Mondelēz International will continue to operate the Clif Bar & Co. business from its headquarters in Emeryville, Calif., with manufacturing operations in its facilities in Twin Falls, Idaho, and Indianapolis, Ind.
The acquisition of Clif Bar & Co. builds upon Mondelēz International’s prioritization of fast-growing snacking segments in key geographies. This year, Mondelēz International has announced plans to acquire Ricolino, Mexico’s leading confectionery company, from Grupo Bimbo and closed its acquisition of Chipita S.A., a leader in the Central and Eastern European snack-size cakes and pastries category.
This progress followed a year of strong global snacking growth in 2021, including the acquisitions of Grenade, a leading UK performance nutrition company; Gourmet Food Holdings, a leading Australian food company in the premium biscuit and cracker category; and Hu, a well-being snacking company in the U.S.