Science in Sport

Raising the bar: Mondelez acquires CLIF for 3.6x sales

  • Sectors : Foods
  • Companies : Science in Sport

Ratings and price correct at time of issue.

  • Science in Sport

    Closing Price: 51.5p

  • RATING 09/03/22



Mondelez’s acquisition of CLIF Bar (CLIF) materially expands its healthy snacking platform and creates a scale player in an attractive nutrition category. The deal follows the recent acquisitions of Perfect Snacks and Grenade and underpins CPG’s growing appetite to expand its healthy indulgence and better-for-you portfolios – pre-empting changing consumer habits and increasing regulation at till-side. The deal multiple of 3.6x EV/Sales, a material premium to publicly listed peers, reflects the category halo, CLIF’s strong growth track record (9% ten-year CAGR), strong brand equity (heritage since 1992), dominant domestic market position in bars, premium-focus with product innovation and future revenue and cost synergies.

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Jun 21 2022, 09:55 IST/BST