The Wall Street Journal and Boys Dave reported that Mondelēz International bought the company for $2.9 billion. The popular brands that Mondelez now owns are Clif, Luna and Clif Kid. The purchase will expand the company’s food business to more than $1 billion.
“We are delighted to welcome Clif Bar & Company’s iconic brands and enthusiastic employees to the Mondelēz International family,” said Dirk van de Putt, Chairman and CEO of Mondelēz International, in a statement. “This transaction advances our ambition to lead the future of snacks by winning chocolate, biscuits and baked snacks as we continue to expand our high-growth snack food business. As a pioneer and innovator in luxury and sustainable snacking in the US, Clif Bar & Company embodies our goal. our mission of “enabling people to snack right,” and we look forward to moving forward this important work with our committed Clif colleagues in the years to come.”
The company told the newspaper that it plans to keep its two plants in Idaho and Indiana. The news that the Twin Falls facility in Cliff Barr will remain in Idaho is good news for the gem state.
The company was started as a dream in 1992 by Gary Erickson. He thought people would need something to fuel them while riding a 175-mile bike. He and his mom started baking the first version of Clif Bars using her oven. From humble beginnings, to selling the company for $2.9 billion, Ericsson has truly lived the dream. You can read more about the history of Bars Cliff here.
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