Clif Bar & Company, the maker of organic energy bars, has been offered big payouts in the past — but walked away.
The acquisition of the privately-held companyby Mondelēz, as it looks to expand its global snack bar business. The Chicago-based Mondelēz will get the Clif, Luna and Clif Kid brands of bars in its portfolio and said there could be additional payouts for the sellers based on its earnings from Clif Bar.
Erickson spent time experimenting with ingredients until finally finding the right recipe for his bars, which were named after his father, Clifford, "who introduced him to wilderness adventures and encouraged him to follow his passions in life." In the year 2000, Erickson walked away from an offer of $120 million to sell the company to Quaker Oats. But Thomas wanted to sell and he had to ultimately buy her out for $60 million, according to a"It was the gamble of the century," Erickson told INC in 2018. "Because we didn't sell to a big company, we stayed private, we had the opportunity to figure out how we wanted to be in the world, and what values we had as a company," she told the magazine.
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