Mondelēz International Acquires Clif Bar for $2.9 billion
Clif Bar & Company is set to be acquired by one of the biggest snack companies in a $2.9 billion purchase.
2022 continues to be a year of acquisitions as Mondelēz International, the owner of Oreo and Cadbury, will be purchasing Clif Bar and its other brands with the transaction set to complete in the third quarter.
Following the completion of the acquisition, Mondelēz International will continue Clif Bar & Company operations from its base in Emeryville, California with product manufacturing staying at its facilities in Twin Falls, Idaho, and Indianapolis. Mondelēz International has already purchased multiple companies in the past two years with either completed or in progress purchases of Ricolino, Chipita S.A., Grenade, Gourmet Food Holdings and Hu.
 | We are thrilled to welcome Clif Bar & Company's iconic brands and passionate employees into the Mondelēz International family. 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. 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. |
| Mondelēz International is the right partner at the right time to support Clif in our next chapter of growth. Our purposes and cultures are aligned, and being part of a global snacking company with broad product offerings can help us accelerate our growth while staying true to our deeply ingrained Five Aspirations — sustaining our people, planet, community, business, and brands — five bottom lines that have grounded our company since its founding and will remain our North Star going forward. |
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This shouldn't be a surprise though given you saw the writing on the wall and its not a sad way to go out. Its smart as hell, anybody who can offload a business with the impending economy concerns for $2.9B as they head into retirement age is a genius.
Who are we kidding, any sane human would just toss the other half and go find some real food.
So Clif has been the main player now for a long time. Kind of surprised they aren't already owned by someone huge. They lasted quite a bit longer than most.
Just looked them up - there's a wikipedia page on them and they have a website to purchase. They look different and I haven't seen them on shelves in forever.
www.powerbar.com
The banana flavored ones were weirdly good though
I too haven't had or seen one in years.
"...the right partner at the right time..." Lols, some big corporate stooge turning up with a suitcase overflowing with money is never really going to turn up at the wrong time.
It was never great but damn o could eat Creme Eggs until I keel over with heart failure
Anyway…
www.powerbar.com
f*ck Nestle, f*ck big corp.
Goodbye Clif, i enjoyed it as long as it lasted.
Go buy from smaller national or even Local brands.
Your Purchase is your Vote for Nestlé and all that comes with it.
In today’s troubling world, these are the heroes we need. Fighting the good fight, one expensive candy bar at a time. We salute you, Cadbury Bunny of justice.
"The deal, which is expected to close in the third quarter of this year, means Erickson, aged 64, and his wife Kit Crawford, 63–who together own 80% of the company, (Clif Bar’s roughly 1,200 employees own the rest)–will walk away with approximately $1.53 billion in cash, according to Forbes’ estimations"
www.forbes.com/sites/jemimamcevoy/2022/06/22/california-couple-likely-to-pocket-16-billion-from-sale-of-their-energy-brand-clif-bar/?sh=31d31ac17146
I will not be buying any more Clif Bloks but that doesn’t mean much LOL
Now where is my $100k?
For free!