The acquisition of Clif Bar & Co. for $ 2.9 billion, food giant Mondelez International announced in a move that strengthens its product portfolio with brands such as Clif Bar, Luna and Clif Kid.
The global food giant announced on Monday that Clif Bar will continue to operate independently, adding that the deal is expected to close in the third quarter of this year.
The snack company, like other food companies, has said prices will continue to rise amid rising costs.
In particular, Mondelez CEO Dirk Van de Put noted earlier this month that energy price hikes have not hit the company’s sales, which came as a surprise, but added that there will be more price increases next year. of the products.
It is noted that this is the second major acquisition of Mondelez in a few months, since only in April the food giant announced that it will pay $ 1.3 billion for the acquisition of the confectionery company Ricolino by Grupo Bimbo.
Source: Capital
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