NEWS Mondelēz International to acquire Clif Bar & Co Mondelēz International, Inc. has announced an agreement
to acquire Clif Bar & Company, a leading U.S. maker of nutritious energy bars with organic ingredients, for $2.9 billion with additional contingent earnout consideration. The acquisition of leading on-trend brands CLIF®, LUNA® and CLIF Kid® expands Mondelēz International’s global snack bar business to more than $1 billion, including its complementary and leading refrigerated snacking business Perfect Snacks in the U.S. and leading performance nutrition business Grenade in the U.K. This acquisition also advances the company’s strategy to reshape its portfolio to sustain higher long-term growth. “We are thrilled to welcome Clif Bar & Company’s iconic brands and passionate employees into the Mondelēz International family,” said Dirk Van de Put, Chairman and CEO of Mondelēz International. “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.” The transaction is expected to be top-line accretive in year two and create cost synergies by using Mondelez
International’s global and North American scale to expand Clif’s sales distribution and gain further penetration in existing and new customers and channels in the U.S. “Mondelēz International is the right partner at the right
time to support Clif in our next chapter of growth,” said Sally Grimes, Chief Executive Officer, Clif Bar & Company. “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.”
Maltesers launch new flavour in almost a decade MALTESERS has unveiled a new uniquely
delicious
dark chocolate treat – the first innovation to the classic MALTESERS in almost a decade following previous plays on the iconic flavour including orange and mint varieties of the popular MALTESERS Buttons. Selling a total of 187 million MALTESERS treats a year–
equating to six products every second – MALTESERS is a firm favourite amongst Brits, as one of the UK’s most loved chocolate brands. This launch promises to give fans a new and delicious way to enjoy dark chocolate. The new Dark MALTESERS are expertly crafted by Mars
Wrigley’s team of chocolatiers to provide chocolate lovers a choice when opting for MALTESERS. MALTESERS Dark have 65% more cocoa, and 30% less sugar.
KennedysConfection.com
Kennedy’s Confection July 2022 11
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