Global food and beverage products provider Mondelez International Inc. (MDLZ) has agreed to acquire nutritious energy bar maker Clif Bar & Company for a consideration of $2.9 billion with a further contingent payout. The move boosts Mondelez’s global snack bar presence with the addition of the Clif, Luna, and Clif Kid brands. This also bolsters Mondelez’s strategy to remodel its portfolio toward higher long-term growth. The Chairman and CEO of Mondelz, Dirk van de Put, said, “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.
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