July 25th, 2022, Lesley Simeon
Mondelez International has announced that it will scoop up energy bar maker, Clif Bar & Company, for $2.9 billion. According to the official announcement, Mondelez will get the Clif, Luna and Clif Kid brands, expanding the Cadbury maker’s global snack bar business. The acquisition of Clif Bar is Mondelez’s ninth such deal since 2018.
So what makes Clif Bar so valuable? Well, it could be the brand’s customers.
According to YouGov Profiles – which covers demographic, psychographic, attitudinal and behavioral consumer variables – more than half of Clif customers (56%) eat an energy bar at least once a week, marking them out as very regular consumers of this kind of product.
But what’s more interesting – and perhaps part of the reason Mondelez moved to acquire Clif - is the nature of their snack-purchasing. Clif customers have deep pockets when it comes to snacks and are much more likely to be higher-budget buyers than the general US population. Consumers of the energy bar brand are, for example, almost twice as likely as the average American to spend between $100 and $150 on snacks per month (9% vs 5%) and that’s a habit that extends to a certain degree across all higher spending brackets (see the chart below).
Clif bar customers are premium snack-buyers – and that could be what made the brand so attractive to Mondelez.
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Methodology: YouGov Profiles is based on continuously collected data and rolling surveys, rather than from a single limited questionnaire. Profiles data for the US is nationally representative of the online population and weighted by age, gender, education, region, and race. Learn more about Profiles.