Mondelez to buy energy bar maker Clif Bar in $2.9B deal
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Mondelez International (NASDAQ:MDLZ) said on Monday it agreed to acquire Clif Bar & Company, a California-based maker of energy bars with organic ingredients, for $2.9B plus unspecified contingent earnout consideration.
Mondelez (MDLZ) said the acquisition of bar brands Clif, Luna and Clif Kid will expand its global snack bar business to more than $1B.
The company said the deal will build on its continued prioritization of fast-growing snacking  segments in key geographies.
Mondelez (MDLZ) was one of three consumer staples names recently listed by Goldman Sachs as stable stocks to own in the current uncertain market.