(CercleFinance.com) – Mondelez International announced on Monday evening that it had reached an agreement to acquire Clif Bar & Company, a manufacturer of organic energy bars, for an amount of at least 2.9 billion dollars.
The American group specifies that the transaction, which must be accompanied by additional payments depending on the performance achieved by the brand, will allow it to reach the critical size of one billion dollars in annual revenue in candy bars.
The acquisition – which adds the Clif, Luna and Clif Kid brands to products such as Perfect Snacks in the United States and Grenade in the United Kingdom – should allow it to reposition its portfolio with a long-term perspective.
Clif Bar & Company makes chocolate brownie, coconut, peanut butter and lemon curd bars, among others.
Mondelez, which plans to maintain operations at its current Emeryville, Calif., headquarters, expects the transaction to close in the third quarter.
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