From the MarketWatch web page for those interested in business news…
Mondelez buying Clif Bar for $2.9 billion
Mondelez International Inc. said it would acquire Clif Bar & Co. for at least $2.9 billion,
in a deal that adds the brands Clif Bar, Luna and Clif Kid to Mondelez’s food business.
The global food giant MDLZ, +0.32% said Monday that it would continue to operate Clif Bar’s
business out of the company’s headquarters in Emeryville, Calif., and would continue to
manufacture products out of facilities in Indiana and Idaho.
Mondelez said it expects the deal, which it said could pay out more to the sellers over time,
to close in the third quarter.
The snack maker and other food companies have said they would continue to raise prices amid
escalating costs. Mondelez CEO Dirk Van de Put said this month that the company’s price
increases haven’t curtailed purchases, which he said was surprising. But there would be more
price increases to come over the next year, he said.
What I found interesting was that it’s taken them a while to increase prices. Seems like the bars are generally sold at $1/bar for the longest time, and now there have been a series of $0.10 rises in price in about 1.5 years.
I don’t begrudge them for raising prices, but it’s been a bit disappointing to see a lot of my preferred flavors disappear.
Otoh, when costs begin to fall, would they decrease prices?
I did a double-take when I saw the sale price but it makes sense. I’ve noticed that some local grocery store chains had empty shelves for a few months but they’re back in stock now. Prices are higher but at least they’re the same 2.4 oz. size. Although to be honest a reduction in size and calories per bar would be good for me.