Clif, popular with climbers and hikers, is available in Tesco, Sainsbury’s, Asda and Morrisons, as well as health food and outdoor retailers across the UK

Mondelez International has strengthened its presence in the global snack bar market with the $2.9bn (£2.4bn) acquisition of Clif Bar & Company.

The deal expands the value of the Cadbury owner’s snack bar business to more than $1bn following previous complementary takeovers of performance nutrition brand Grenade in the UK, US refrigerated snacking player Perfect Snacks and Australian premium biscuit and cracker maker Gourmet Food Holdings.

Mondelez said the latest acquisition advanced the strategy to reshape its portfolio to sustain higher long-term growth as consumers continue to seek out healthier alternatives to traditional chocolate bars.

California-headquartered Clif Bar & Company makes the Clif, Clif Kid and Luna brands from factories in Idaho and Indiana.

Its Clif bars are available across the UK in the Big Four supermarkets, as well as health food and outdoor retailers.

Mondelez will continue to operate Clif from its current headquarters, “nuturing its entrepreneurial spirit and maintaining the brand’s purpose and authenticity”.

CEO Dirk Van de Put said: “This transaction further advances our ambition to lead the future of snacking by winning in chocolate, biscuits and baked snacks as we continue to scale our high-growth snack bar business.

“As a leader and innovator in well-being and sustainable snacking in the US, Clif Bar & Company embodies our purpose to ‘empower people to snack right’ and we look forward to advancing this important work with Clif’s committed colleagues in the years ahead.”

Clif CEO Sally Grimes added that Mondelez was the “right partner at the right time” to support the business in its next stage of growth.

“Our purposes and cultures are aligned and being part of a global snacking company with broad product offerings can help us accelerate our growth while staying true to our deeply ingrained ‘Five Aspirations’ - sustaining our people, planet, community, business, and brands - five bottom lines that have grounded our company since its founding and will remain our North Star going forward.”

Mondelez expected the deal to enhance its top line by year two while creating cost synergies as the group used its scale to expand Clif’s distribution to reach new customers and channels in the US.