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BFY Millennial, Gen-X Opps: Clif Bar to be acquired by Mondelez (Score 70)

Clif Bar for $2.9b. Mondelez expects the deal to close in Q3 2022. The company is a huge spender, so the shift could lead Clif's spend to increase. Mondelez may also seek new agency partners for Clif.

According to iSpot, Clif has spent approximately $2.7m on national TV commercials YTD, a huge increase from the approximately $3.6k spent by this point last year. The company did not utilize this channel after this point last year, and it had spent approximately $10.2k on it in 2020. Clif's 2022 commercials have targeted Gen-X watching shows such as Good Morning America, GMA3: What You Need to Know, CBS Mornings, America's Got Talent and Today.

So far this year, Pathmatics reports the company has allocated roughly $1.2m toward digital ads, a significant decline from the roughly $7.2m allocated within the same 2021 timeframe. Clif's estimated full-year spend of $14.3m reached more than 3x that of $4.1m in 2020. The company has earned ~126.1m digital impressions YTD via desktop video/YouTube (41%), Facebook (39%), Instagram (16%), desktop display (3%) and mobile display (1%) ads.

This sharp rise in TV spend and the corresponding drop in digital spend leads me to believe Clif is primarily targeting older millennials and Gen-X right now.; it mainly targets better-for-you (BFY) consumers.

Agency & martech readers - Get in touch soon if you haven't yet done so. To the best of our knowledge, Clif hasn't hired any new agency partners since appointing CCO Shaunte Mears-Watkins Essence (media).