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The Cadbury maker will also pay additional amounts to the sellers depending upon its earnings from Clif Bar, Mondelez (NASDAQ:MDLZ) said.
The company said it will get the Clif, Luna and Clif Kid brands of bars in its portfolio through the acquisition, creating a $1 billion-plus global snack bar franchise for itself.
Mondelez will continue to manufacture Clif’s products in its facilities at Twin Falls in Idaho and Indianapolis in Indiana, the company said.
