Stride Consumer Partners acquires Greek yogurt snack brand Clio Snacks

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US-based Clio Snacks, a manufacturer of refrigerated Greek yogurt bars, has been acquired by growth-equity investment firm Stride Consumer Partners for an undisclosed sum.

The acquisition is expected to support Clio’s continued expansion, with investment focused on brand development, distribution, manufacturing capabilities and product innovation.

The investment will enable Clio to strengthen its operational infrastructure, increase distribution and develop new products as it seeks to expand its position in the US refrigerated snacking market.

Founded in 2015 by Sergey Konchakovskiy, Clio produces chocolate-coated Greek yogurt bars designed to combine the nutritional benefits of yogurt with the texture and taste of an indulgent snack.

The company has experienced significant growth in recent years under CEO John McGuckin, who joined the business in 2021. During his tenure, Clio has more than quadrupled its revenue while expanding its retail presence, production capacity and product portfolio.

Clio’s products are currently available in approximately 60,000 retail locations across the US. The company is also on track to manufacture more than 150 million bars this year at its 86,000-square-foot production facility in Piscataway, New Jersey.

Its portfolio has expanded beyond its original single-serve Greek yogurt bars to include additional flavours and varieties, alongside a range of mini bars sold in multipack formats.

“When I joined Clio, we already had an incredible product and a passionate consumer base,” said McGuckin. “We saw a tremendous opportunity to build the infrastructure and scale the business. Partnering with Stride gives us the resources and support to build on that momentum.”

Stride Consumer Partners specialises in investments in consumer brands, with a particular focus on businesses demonstrating growth potential.

Juan Marcos Hill, partner at Stride, commented: “We have been trying to partner with Clio for years, admiring the brand’s vision and how the team has truly built a differentiated brand in the rapidly growing better-for-you ‘permissive indulgence’ snacking space.”

Emma Greenwood, vice president at Stride, added: “We jumped at the opportunity to partner with the Clio team and support the company as it scales.”

Financial terms of the transaction were not disclosed.