• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
European Commission President Ursula von der Leyen: The situation in Ukraine is clearly changing. The momentum is strong.According to The Times of Israel, US Vice President Vance criticized Israel for "panic" over the Iran nuclear deal.Spanish Prime Minister Sánchez: Supports the agreement between Iran and the United States.1. EIA Natural Gas Report: As of the week ending June 12, total U.S. natural gas inventories stood at 2.759 trillion cubic feet, an increase of 73 billion cubic feet from the previous week, but a decrease of 29 billion cubic feet from the same period last year, a year-on-year decrease of 1.0%. This is 151 billion cubic feet higher than the 5-year average, an increase of 5.8%. 2. Officials from the Iranian Shipping Association stated that merchant ship traffic to southern Iranian ports has returned to normal since June 16. To date, three ships carrying basic supplies and food have entered the port, while two crude oil export vessels have departed. 3. Irans Tasnim News Agency, citing a source, reported today (June 18) that nothing has been finalized regarding the Iranian delegations trip to Switzerland, and related assessments and consultations have not yet been completed. 4. As of June 18, methanol inventories at East China ports were 262,500 tons, compared to 310,500 tons on June 11, a decrease of 48,000 tons. 5. With the interim peace agreement between the US and Iran prompting the reopening of the Strait of Hormuz, Kuwait has begun increasing oil production and plans to restore daily output to 2 million barrels within a week. Kuwait Petroleum Corporation (KPC) CEO Sabah stated in an interview that the country has completed sufficient repairs to damaged energy infrastructure, enabling it to restore production to pre-war levels faster than previously expected. 6. Data released by the US Department of Agriculture (USDA) shows that private exporters reported sales of 132,000 tons of soybeans to China, 285,775 tons of corn to Mexico, and 120,000 tons of soybeans to unknown destinations, all for delivery in the 2026/2027 marketing year. 7. According to the USDA: For the week ending June 11, 2026, net export sales of US soybeans for the 2025/2026 marketing year totaled 424,900 tons, compared to 211,300 tons the previous week. 8. US net corn export sales for 2025/2026 were 1.1571 million tons, compared to 1.0004 million tons the previous week. 9. The US Climate Prediction Center (CPC) reported that El Niño conditions have recently emerged in the tropics and are expected to intensify during the Northern Hemisphere summer and fall of 2026. The probability of this El Niño event developing into a strong El Niño event during July-August-September is over 40%. 10. US initial jobless claims for the week ending June 13 were 226,000, slightly higher than the market expectation of 225,000. 11. OPEC, in its "World Oil Outlook 2026," stated that global oil demand is projected to increase from 105.1 million barrels per day in 2025 to 113.3 million barrels per day in 2030. Compared to last years report, the 2025 demand forecast remains largely unchanged, while the 2030 forecast remains unchanged. U.S. shale oil production is likely to peak in 2025, with total U.S. shale oil supply expected to grow only slightly by 2030 before stabilizing.German Chancellor Merz: Europeans know they must take on more responsibility within the NATO framework, and we are taking action.

Mondelez will buy energy bar producer Clif Bar for around $3 billion

Haiden Holmes

Jun 21, 2022 11:33

14.png


Mondelez International Inc said on Monday it will buy energy bar producer Clif Bar & Company for $2.9 billion to expand its worldwide snack bar business.


The Cadbury maker will also pay additional amounts to the sellers based upon its earnings from Clif Bar, Mondelez (NASDAQ:MDLZ) stated.


The business said it will obtain the Clif, Luna and Clif Kid brands of bars in its portfolio with the acquisition, creating a $1 billion-plus worldwide snack bar franchise for itself.


"Mondelēz International is the perfect partner at the right moment to support Clif in our next chapter of growth," stated Sally Grimes, Chief Executive Officer, Clif Bar & Company. "Our aims and cultures are linked and being part of a global snacking company with extensive product offers can help us accelerate our growth."


Mondelez will continue to manufacture Clif's goods in its facilities at Twin Falls in Idaho and Indianapolis in Indiana, the firm said.


The food and beverage giant, which also makes Toblerone, Oreo and Tang, expects the merger to be accretive to its topline in the second year following the deal and will also create cost synergies for Clif's distribution due to the company's worldwide scale.


Clif Bar's acquisition represents the eighth merger since 2018 as Mondelez works towards reorganizing its portfolio for stronger long-term growth.


Mondelez forecasts organic net revenue to reach above 4 percent in 2022, while its long-term growth target is of more over 3 percent .


The purchase is likely to finalize in the third quarter, Mondelez said.