Stride Consumer Partners Acquires Clio Snacks in Refrigerated Bar Deal

Originally reported by The Deal.

Stride Consumer Partners has acquired Clio Snacks from Alliance Consumer Growth, The Deal first reported, marking a new ownership chapter for the Piscataway, N.J.-based maker of chocolate-covered Greek yogurt bars. Financial terms were not disclosed. The Deal had reported previously that Clio's owners were working with Piper Sandler to solicit buyers, with sellers targeting a valuation north of 10 times the brand's EBITDA of roughly $15 million.

Clio was founded in 2015 by Sergey Konchakovskiy, whose brand pages trace the concept to a childhood memory from growing up in Ukraine and a kitchen moment involving thickened, drained Greek yogurt. The company manufactures its products at an 86,000-square-foot facility in Piscataway and sells through retailers including Whole Foods, Target, Walmart, Sam's Club, Publix, Kroger and Albertsons, according to The Deal. The brand is on track to produce more than 150 million bars this year, per The Deal, and its products are carried in about 60,000 stores nationwide. Revenue has more than quadrupled since CEO John McGuckin joined in 2021, The Deal reported. The company's own press page references revenue of nearly $90 million.

ACG backed Clio beginning in 2018, led the brand's $8 million funding round in August 2020 alongside AF Ventures, and led a 2022 strategic capital raise that included athletes Maria Sharapova and Jayson Tatum, according to The Deal. Boston-based Stride, which closed its second fund with $550 million in commitments last month per The Deal, said the investment will support Clio's next phase of growth through brand building, expanded distribution and product innovation.

Why it matters

The acquisition signals continued private-equity appetite for the refrigerated snacking segment, a category that has historically attracted less deal flow than shelf-stable better-for-you brands. Clio occupies a structurally differentiated position: its bars require a cold chain, which raises distribution complexity but also creates higher barriers to entry and a distinct retail footprint in the dairy aisle rather than the conventional snack bar set. A valuation target of more than 10 times EBITDA, as The Deal reported the sellers sought, reflects premium pricing consistent with high-growth food brands in the current market. Stride's closing of a $550 million second fund last month suggests the firm carries significant dry powder, and a brand with fourfold revenue growth and a vertically integrated manufacturing base fits the profile of a platform investment capable of absorbing follow-on capital for distribution expansion and new product formats.

What to watch

Whether Stride moves to expand Clio into foodservice or Canadian retail, two channels the brand's press page indicates were already on the company's radar, will serve as an early signal of how aggressively the new owner intends to push growth beyond the brand's current domestic store count.

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Sources

• The Deal: Stride Consumer Partners Adds ACG-Backed Clio Snacks
• Clio Greek Yogurt Bars Wrapped in Chocolate - Clio Snacks
• Our Story - Clio Snacks
• Press - Clio Snacks