Chicago-based snack food giant Mondelez, maker of Oreo and Ritz, will acquire Clif Bar & Company for $2.9 billion

Chicago-based snack food giant Mondelez International said Monday it has agreed to acquire Clif Bar & Company, the California-based maker of Clif, Clif Kid and Luna brand energy bars. Shown here are Clif Bar's Crunchy Peanut Butter, left, and Chocolate Chip Peanut Crunch.

The deal was valued at $2.9 billion and includes “additional contingent earnout consideration,” Mondelez said in a news release.“We are thrilled to welcome Clif Bar & Company’s iconic brands and passionate employees into the Mondelēz International family,” said Dirk Van de Put, chairman and CEO of Mondelez International, in a statement.

Mondelez spokesperson Tracey Noe said the company saw “great opportunity” to expand Clif’s reach in the U.S., Canada and other international markets.

Nice. Those bars needed much more high fructose corn syrup and now they will get it.

They should work on agreeing to not run over children first

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