Key Takeaways
- • Stride Consumer Partners, a Boston-based growth-equity firm, has acquired Clio Snacks, the Piscataway, New Jersey maker of refrigerated, chocolate-covered Greek yogurt bars; financial terms were not disclosed.
- • Clio, founded in 2015 by Sergey Konchakovskiy, produces at an 86,000-square-foot facility, is on track to produce more than 150 million bars, and is sold in approximately 60,000 stores nationwide.
- • Stride's Juan Marcos Hill said the firm had sought to partner with Clio for years, citing the brand's position in the "permissive indulgence" better-for-you snacking segment.
- • The deal is intended to fund growth in brand building, expanded distribution, operational capabilities and new product development, with future innovations including mini multi-pack formats.
Summary
Stride Consumer Partners, a Boston-based private equity and growth-equity firm, has acquired Clio Snacks, a New Jersey-based maker of refrigerated Greek yogurt bars. Several outlets, including NJBIZ and Food Business News, reported the transaction. Financial terms were not disclosed. One report described Stride as acquiring a majority stake in the company, which other coverage characterized as a $100M brand; these figures were not confirmed in the reporting available.
Clio Snacks was founded in 2015 by Sergey Konchakovskiy and makes chocolate-covered Greek yogurt bars with a cheesecake-like texture. According to the company, the bars are manufactured at an 86,000-square-foot facility and the company is on track to produce more than 150 million bars. The products are sold in approximately 60,000 stores nationwide. The company said future innovations include new flavors and snackable mini multi-pack formats.
According to the company, the acquisition will support growth in brand building, expanded distribution, operational capabilities and new product development. Juan Marcos Hill, partner at Stride Consumer Partners, said the firm had been trying to partner with Clio for years and praised the brand's differentiated position in the better-for-you "permissive indulgence" snacking category. Chief executive John McGuckin, who joined Clio after serving as chief customer officer at Lakeview Farms and was named CEO in 2021, said the partnership gives the company resources to scale the business.
Prior to the Stride transaction, Clio raised funding from Alliance Consumer Growth and AF Ventures, including an $8 million round, and later raised capital alongside professional athletes. Stride's other food and beverage investments include Chomps, Essentia, Fuze, Jeni's Ice Cream, Serenity Kids and Yasso.
Clio Snacks was founded in 2015 by Sergey Konchakovskiy and makes chocolate-covered Greek yogurt bars with a cheesecake-like texture. According to the company, the bars are manufactured at an 86,000-square-foot facility and the company is on track to produce more than 150 million bars. The products are sold in approximately 60,000 stores nationwide. The company said future innovations include new flavors and snackable mini multi-pack formats.
According to the company, the acquisition will support growth in brand building, expanded distribution, operational capabilities and new product development. Juan Marcos Hill, partner at Stride Consumer Partners, said the firm had been trying to partner with Clio for years and praised the brand's differentiated position in the better-for-you "permissive indulgence" snacking category. Chief executive John McGuckin, who joined Clio after serving as chief customer officer at Lakeview Farms and was named CEO in 2021, said the partnership gives the company resources to scale the business.
Prior to the Stride transaction, Clio raised funding from Alliance Consumer Growth and AF Ventures, including an $8 million round, and later raised capital alongside professional athletes. Stride's other food and beverage investments include Chomps, Essentia, Fuze, Jeni's Ice Cream, Serenity Kids and Yasso.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.