The Clap
One of the world’s biggest snack foods companies “Mondelēz International” (NASDAQ: MDLZ) has acquired energy bar maker Clif Bar for $2.9 billion.
More on Mondelēz
Mondelēz is home to some of the world’s most recognizable snack brands. Brands like Oreo, Trident, Sour Patch Kids, Ritz, Halls, and Cadbury fall under Mondelēz’s snack umbrella.
The deets
This deal marks the ninth deal for Mondelēz since 2018, as the company looks to shape its brand portfolio for higher sustainable growth.
The deal is expected to close in Q3-2022.
Why this matters
Mondelēz says the deal comes with a boost in cost synergies, as it will be able to easily distribute Clif bars due to its global reach. The snack giant expects the deal to have a positive impact on revenues within two years after the deal.
