A rapidly growing maker of refrigerated Greek yogurt and chocolate bars has been acquired by a private equity firm, officials announced Tuesday.
Stride Consumer Partners Partner Juan Marcos Hill said that the Boston firm has sought to work with Clio Snacks for years and “jumped at the opportunity to partner with the Clio team and support the company as it scales." Clio, founded in 2015, today sells its snack bars in about 60,000 stores across the country and has more than quadrupled its revenue over the past five years, officials said. It is on pace to make over 150 million bars at its New Jersey plant this year.
The partnership with Stride, officials said, would support “continued investment across key areas of Clio's business,” including R&D, distribution and marketing.
Terms of the deal were not disclosed.
"When I joined Clio, we already had an incredible product and a passionate consumer base. We saw a tremendous opportunity to build the infrastructure and scale the business," Clio CEO John McGuckin said in a statement. "Partnering with Stride gives us the resources and support to build on that momentum."
