Mondelez Global is including to its snacks portfolio with the purchase of US power bar trade Clif Bar & Corporate for US$2.9bn.
Cadbury and Oreo proprietor Mondelez mentioned the deal will see it transform a $1bn international snack bar participant and continues its enlargement in baked snacks.
Clif Bar, founded in Emeryville, California, is a family- and employee-owned trade. It owns the Clif, Clif Child and Luna logo power bars, which can be made with natural elements.
The purchase of what Mondelez referred to as “on-trend manufacturers” follows the United States large’s contemporary purchases of snack-bar corporations Highest Snacks and Grenade.
“This acquisition additionally advances the corporate’s method to reshape its portfolio to maintain upper long-term development,” it mentioned.
Mondelez CEO Dirk Van de Put added: “This transaction additional advances our ambition to guide the way forward for snacking by way of profitable in chocolate, biscuits and baked snacks as we proceed to scale our high-growth snack bar trade.
Sally Grimes, the previous Tyson Meals government who changed into Clif Bar CEO in 2020, mentioned: “Mondelez Global is the fitting spouse on the proper time to make stronger Clif in our subsequent bankruptcy of development.”
Mondelez will proceed to perform the Clif Bar trade from its California headquarters and also will proceed to fabricate its merchandise in its amenities in Dual Falls, Idaho, and Indianapolis, Indiana.
The Clif Bar portfolio is centred on snacks, with a smaller presence in spaces together with cereal. Prior to Christmas, the corporate made a notable transfer into some other class, launching a variety of dog food.
Previous in 2021, Clif Bar introduced it used to be axing greater than 100 posts with a watch on rising gross sales. CEO Sally Grimes mentioned on the time the corporate would chop round 125 positions, whilst including extra roles to the trade.
The transfer for Clif Bar is Mondelez’s 2nd acquisition of 2022. In April, it introduced a deal to purchase Mexico-based confectionery corporate Ricolino from Grupo Bimbo.
In Would possibly, the Lu biscuits proprietor set out plans to promote its cough chocolates logo Halls and a few of its chewing gum property.
Simply Meals research, Would possibly 2022: Mondelez Global technique push hits candy spot
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