{"id":37452,"date":"2022-06-21T04:08:05","date_gmt":"2022-06-21T04:08:05","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/06\/21\/cadbury-owner-buys-us-energy-bar-maker-clif-for-2-9bn\/"},"modified":"2022-06-21T04:08:05","modified_gmt":"2022-06-21T04:08:05","slug":"cadbury-owner-buys-us-energy-bar-maker-clif-for-2-9bn","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/06\/21\/cadbury-owner-buys-us-energy-bar-maker-clif-for-2-9bn\/","title":{"rendered":"Cadbury owner buys US energy bar maker Clif for $2.9bn"},"content":{"rendered":"
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The owner of iconic British chocolate brand Cadbury has announced it will buy US energy bar maker Clif Bar & Company for $2.9bn (\u00a32.4bn).<\/b><\/p>\n<\/div>\n

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Mondelez International – which also owns Oreo, Toblerone and Milka – says the deal will help advance its plans to “lead the future of snacking”.<\/p>\n<\/div>\n

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The food and beverage giant also says it will continue to make Clif’s products at its Idaho and Indiana facilities.<\/p>\n<\/div>\n

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In March, Mondelez warned of the impact of rising production costs.<\/p>\n<\/div>\n

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In a statement Monday, the American confectionery maker said the acquisition would take its snack bar business’ value to over $1 billion. <\/p>\n<\/div>\n

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It added that it will continue to operate Clif’s business from Emeryville, California, where the company is headquartered, once the transaction closes later this year.<\/p>\n<\/div>\n

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  • Cadbury is downsizing the size of the Dairy Milk Sharing bar<\/li>\n
  • Cadbury owner scales back operations in Russia<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
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    “We are delighted to welcome the iconic brands and passionate people of Clif Bar & Company to the Mondelez International family,” said Dirk Van de Put, Chairman and Chief Executive of Mondelez.<\/p>\n<\/div>\n

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    “This transaction fuels our ambition to lead the future of snacking by winning in chocolate, cookies and baked snacks while we continue to grow our high-growth snack bar business,” he added.<\/p>\n<\/div>\n

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    Clif was founded three decades ago by Gary Erickson, who, according to the company’s website, got the idea to create an energy bar during a 175-mile bike ride.<\/p>\n<\/div>\n

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    The bar opened “after countless hours in Mama’s kitchen” and was named after Mr Erickson’s father and “childhood hero” Clifford.<\/p>\n<\/div>\n

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    Clif CEO Sally Grimes said Mondelez is “the right partner at the right time to support Clif in our next growth chapter.”<\/p>\n<\/div>\n

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    Mondelez — which also owns other global brands like Daim, Ritz and Belvita — reported nearly $29 billion in net sales last year.<\/p>\n<\/div>\n

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    Like many of its competitors, however, it faces rising costs and in March announced it would reduce the size of Cadbury Dairy Milk-sharing bars by 10%.<\/p>\n<\/div>\n

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    The size of the bars has been reduced from 200g to 180g without lowering the price for customers.<\/p>\n<\/div>\n

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    “We’re trying to absorb costs wherever we can, but in this challenging environment we’ve had to make the decision to slightly reduce the weight of our Cadbury Dairy Milk mid-size bars for the first time since 2012,” said a Mondelez spokesperson.<\/p>\n<\/div>\n

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    In April, the Swiss food giant Nestl\u00e9 warned against further raising the prices of its products because of rising ingredient prices.<\/p>\n<\/div>\n

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    The maker of KitKats and Nesquik said it increased its prices by more than 5% in the first three months of the year.<\/p>\n<\/div>\n

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    As costs rise, Nestle chief executive Mark Schneider said “further pricing and mitigation action throughout the year” will be needed.<\/p>\n<\/div>\n

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    You might also be interested in:<\/b><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    The owner of iconic British chocolate brand Cadbury has announced it will buy US energy bar maker Clif Bar & Company for $2.9bn (\u00a32.4bn). Mondelez International – which also owns Oreo, Toblerone and Milka – says the deal will help advance its plans to “lead the future of snacking”. The food and beverage giant also […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-37452","post","type-post","status-publish","format-standard","hentry","category-business"],"yoast_head":"\nCadbury owner buys US energy bar maker Clif for $2.9bn - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2022\/06\/21\/cadbury-owner-buys-us-energy-bar-maker-clif-for-2-9bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cadbury owner buys US energy bar maker Clif for $2.9bn\" \/>\n<meta property=\"og:description\" content=\"The owner of iconic British chocolate brand Cadbury has announced it will buy US energy bar maker Clif Bar & Company for $2.9bn (\u00a32.4bn). 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