Clif Bar goes big with Mondelēz buyout
This article originally appeared on Velo News
Clif Bar & Company has been acquired by nutrition powerhouse Mondelez International in a $2.9 billion deal.
Clif, makers of the popular Clif Bar, Shot Bloks and Shot gels, and partner brands Clif Kid and Luna, will all join Mondelez’s huge nutrition warehouse. It already owns the leading Perfect Snacks and Grenade energy brands, and candy monolith Cadbury.
The Clif deal expands Mondelez’s global snack bar business to more than $1 billion, according to a press statement.
"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,” Mondelez chief Dirk Van de Put said Monday.
“As a leader and innovator in well-being and sustainable snacking in the U.S, Clif Bar & Company embodies our purpose to 'empower people to snack right' and we look forward to advancing this important work with Clif's committed colleagues in the years ahead.”
Clif Bar & Company will continue operating out of its headquarters in Emeryville, CA. Manufacturing will remain in Twin Falls, ID, and Indianapolis, IN.
The brand grew out of humble roots in 1990 and made a “thing” out of its sustainable creds and employee-friendly policies to being stocked in superstores and sports shops worldwide.
Clif also has a significant presence in bike racing with its backing of several teams in recent years.
Clif now looks set to get even bigger.
For exclusive access to all of our fitness, gear, adventure, and travel stories, plus discounts on trips, events, and gear, sign up for Outside+ today.
