Mondelēz International announced that it has completed the acquisition of Clif Bar & Company, leading U.S. maker of nutritious energy bars with organic ingredients.

The acquisition expands Mondelēz International’s global snack bar business to more than US $ 1 billion, with leading brands including CLIF, CLIF Kid and LUNA complementing the company’s refrigerated snacking business Perfect Snacks in the U.S. and leading performance nutrition business Grenade in the U.K. This acquisition also advances the company’s strategy to reshape its portfolio to deliver higher and sustainable growth.

“We are delighted to formally welcome Clif Bar & Company into our Mondelēz International team,” said Dirk Van de Put, chairman and chief executive officer of Mondelēz International. “We’re excited about the opportunity to advance our shared passion for delivering great-tasting snacks that help fuel busy lifestyles, while helping to reduce our impact on the planet.”

Mondelēz International will continue to operate the Clif Bar & Company business from its headquarters in Emeryville, Calif., with manufacturing operations in its facilities in Twin Falls, Idaho, and Indianapolis, Ind.

The acquisition of Clif Bar & Company builds upon Mondelēz International’s continued prioritization of fast-growing snacking segments in key geographies. So far in 2022, Mondelēz International announced an agreement to acquire Ricolino, Mexico’s leading confectionary company, from Grupo Bimbo and closed and fully integrated its acquisition of Chipita S.A., a leader in the Central and Eastern European snack-size cakes and pastries category. This progress followed a year of strong global snacking growth in 2021, including the acquisitions of Grenade, a leading U.K. performance nutrition company; Gourmet Food Holdings, a leading Australian food company in the attractive premium biscuit and cracker category; and Hu, a well-being snacking company in the U.S.