In the first quarter of 2021, multinational giant Mondelez acquired a majority interest in the UK company Grenade, known for its incredibly reputable and always enjoyable Carb Killa Protein Bar. It expanded Mondelez’s interest in healthy snacking, following another majority acquisition two years prior with the refrigerated bar brand Perfect Snacks and its flagship product, the Perfect Bar.
Mondelez has announced it’s agreed to acquire another functional food company this week in, Clif Bar & Company, responsible for popular on-the-go brands such as Luna, Clif Kid, and, of course, Clif itself. The amount of Mondelez’s acquisition of Clif Bar & Company has been disclosed at an astounding $2.9 billion, almost three times what Simply Good Foods purchased Quest Nutrition at in 2019.
“This transaction further advances our ambition to lead the future of snacking by winning in chocolate, biscuits and baked snacks as we continue to scale our high-growth snack bar business. As a leader and innovator in well-being and sustainable snacking in the U.S, Clif Bar & Company embodies our purpose to ’empower people to snack right’ and we look forward to advancing this important work with Clif’s committed colleagues in the years ahead.” – Mondelez CEO, Dirk Van de Put.
There are several functional products on the market from Clif Bar & Company’s family of brands — Clif, Luna and Clif Kid — outside of their respective flagships. There is Clif Bar’s nut butter-based Nut Butter Bar packing 7g of plant-based protein, Luna’s decadent and keto-friendly Keto Brownie Bites, and the higher protein ZBar Protein from Clif Kid with 5g of protein in a 36g bar.