Mondelez Buys Clif Bar For $2.9 Billion

Mondelez International (MDLZ) is buying privately held energy bar maker Clif Bar & Company
for $2.9 billion U.S.

The acquisition will help food and beverage giant Mondelez expand its global snack bar
business. The Chicago-based company will add the Clif, Luna and Clif Kid brands of energy
bars to its portfolio through the acquisition.

Mondelez, which also makes Toblerone chocolate bars, Oreo cookies, and the Tang orange
flavoured drink, expects the transaction to add to its topline in the second year following the
deal’s closure.

The Clif Bar acquisition marks Mondelez’s ninth deal since 2018. Mondelez has said that it is
reshaping its portfolio for long-term growth.

The purchase of Clif Bar & Company is expected to close in this year’s third quarter.