Mondelez International, Inc. (NASDAQ: MDLZ) has signed an agreement to acquire energy foods and drinks firm Clif Bar & Company for $2.9 billion. The deal terms include a contingent earnout. Headquartered in California, Clif Bar & Company makes organic and nutritious food under the brands CLIF Kid, LUNA, and CLIF. The acquisition is expected to generate cost synergies as well as be accretive to Mondelez’s sales from the second year of completion, which is likely in the third quarter of 2022. About Mondelez Chicago-based Mondelez manufactures and sells snacks such as candy, gum, chocolate, biscuits, groceries, cheese, and powdered beverage products, among others.
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