Line 8-inch (20 cm) square baking pan with enough parchment paper to overhang edges; set aside. In large bowl, toss together cereal, oats, almonds and cranberries; set aside.
In small saucepan set over medium heat, combine butter, honey, brown sugar, vanilla and salt; bring to boil. Boil for 2 minutes; stir into cereal mixture until well coated. Fold in white chocolate chips.
Scrape into prepared pan; press firmly to even thickness. Refrigerate for about 1 hour or until firm and set. Remove from pan; cut into bars.