Mondelēz International, one of the world’s largest snack companies announced yesterday an agreement to acquire Clif Bar and Company.
This acquisition of Clif Bar and its associated brands including Luna and Clif Kid expands Mondelēz International to a more than $1 billion global snack bar business.
“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.”
Mondelēz International will continue to work out of Clif Bar and Company’s current headquarters and its manufacturing plants located in Indianapolis, IN, and Twin Falls.
In Spring of 2016, Clif Bar and Company opened its manufacturing plant in Twin Falls. The bakery created more than 200 jobs in the Twin Falls community and also assisted in meeting the companies growing need for energy and nutrition bars. The 275,000 square-foot-plant also requires a large amount of organic ingredients, which are often supplied by local grain growers.
Mondelēz said they will remain in these facilities in order to nurture an entrepreneurial spirit and maintain the brand’s purpose and authenticity.