Consumer Goods

Mondelez Agrees To Acquire Energy Bar Producer ‘Clif Bar & Company’ For $2.9-Billion

Mondelez has announced an agreement for acquiring Clif Bar, which is a leading producer of energy bars in the United States with the organic ingredients for 2.9 billion dollars along with an additional contingent earnout consideration.

The acquisition of the brands including CLIF, LUNA and CLIF Kid expands the global snack bar business of Mondelez International to over 1 billion dollars, which is also including the company’s refrigerated snacking business known as Perfect Snacks in the United States and Grenade, which is a performance nutrition business in the United Kingdom. This acquisition is also advancing the strategy of the company for reshaping the portfolio of the company for sustaining high and long-term growth.

The transaction is also expected for being the top-line accretive in second year and also creating the cost synergies by using the global and North America scale of Mondelez International for the purpose of expanding the sales distribution of the Clif and gaining further penetration in the new and existing customers and also channels in the United States.

This acquisition has been subject for the customary closing conditions and the conversion to a limited liability company by the Clif Bar & Company and the transaction is also expected for the purpose of closing in the third quarter followed by the a review of the customary regulatory.

Mondelez International is going to continue for operating the Clif Bar & Company business from the company’s headquarters and is also going to continue for manufacturing its products in the facilities of the company.

Writing is a medium to express feelings and convey facts. A creative mind never rests in peace and this amazing platform gives me the freedom to write about what I like most.

I’ve been a writer/blogger for the last twelve years and have covered technology-related topics. However, I also have considerable years of experience in writing for various domains – Technology, Beauty, Fashion, Pharmaceutical, human psychology etc. Technology is my forte.

I’ve handled many interesting projects. Writing is my passion. As an author, I’ve learned a lot in my long journey of penning down my thoughts!

Recent Posts

Premier League Clubs Agree to Remove Gambling Sponsorships from Team Shirts

After discussions with the government, Premier League clubs have agreed to stop sponsoring their front…

1 year ago

Russia’s Novatek to Gain Shell’s Stake in Sakhalin-2

Analysts reported that Novatek, a Russian natural gas producer, acquired Shell's stake in the Sakhalin-2…

1 year ago

Volkswagen Launches New-Gen Electric Motor to Power its “ID” Family

The electric drivetrain of the next generation for Volkswagen's "ID" has been unveiled. Family EV.…

1 year ago

Egg Prices to Reach Record High in 2023 Globally

According to research, global egg prices are expected to remain at an all-time high until…

1 year ago

Audi Selects Ohme as Smart Charger Partner in UK

Ohme becomes Audi's Official UK Smart Charger Partner Ohme has been selected as Audi's new…

1 year ago

General Motors Invests EnergyX to Unlock Lithium Supply in North America

GM Ventures has signed a strategic agreement to develop EnergyX's lithium extraction and refinery technology,…

1 year ago