Oreo Owner Mondelez Buys Nutritious Energy Bar Maker Clif Bar

Mondelez International Inc MDLZ has agreed to acquire energy bars manufacturing company Clif Bar & Company for $2.9 billion with additional contingent earnout consideration.
The acquisition of on-trend brands CLIF, LUNA, and CLIF Kid expands MDLZ's global snack bar business to more than $1 billion.
Mondelez expects the transaction to be top-line accretive in year two and create cost synergies.
MDLZ plans to continue to operate the Clif Bar business from its headquarters in Emeryville, California, and will manufacture products in the facilities in Twin Falls, Idaho, and Indianapolis, Indiana.
"This transaction further advances our ambition to lead the future of snacking by winning in chocolate, biscuits, and baked snacks as we continue to scale our high-growth snack bar business," said Chairman and CEO Dirk Van de Put.
Mondelez expects to close the deal in the third quarter.
Mondelez held $1.9 billion in cash and equivalents as of March 31, 2022.
Price Action: MDLZ shares closed higher by 0.32% at $58.80 on Friday.
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