Mondelēz to buy Clif Bar for at least $2.9B

Dive Brief:

  • Mondelēz International is buying Clif Bar & Company for $2.9 billion with the potential for additional payments, the company said in a statement.
  • The acquisition of the bar maker includes the Clif, Luna and Clif Kid brands and will expand Mondelēz’s global snack bar business to more than $1 billion. The transaction is expected to close in the third quarter.
  • The purchase by the CPG giant further expands its reach into fast-growing snacking categories while giving it a major presence in the high-growth bar business.

Dive Insight:

This is a developing and will be updated shortly.