Clio Snacks joins Stride portfolio amid protein snack boom
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Stride Consumer Partners has acquired a majority stake in Clio Snacks, the US manufacturer of refrigerated Greek yogurt bars, in a transaction intended to support the company’s expansion across manufacturing, retail distribution and product development.
The acquisition gives the Boston-based growth equity firm a controlling interest in a business that has expanded rapidly in recent years, supported by consumer demand for convenient, protein-rich snacks that combine nutritional benefits with indulgent flavors and textures.
Financial terms of the transaction, announced on October 6, were not disclosed. Clio founder Sergey Konchakovskiy and certain existing investors will retain minority ownership interests, with the business reportedly approaching $100 million in annual revenue.
The investment will support Clio’s next phase of growth, particularly through further brand development, improved operational capabilities and expanded distribution throughout the US refrigerated snacking market.
Clio’s rapid growth has created a substantial manufacturing operation
Founded in 2015 by Konchakovskiy, Clio Snacks has established a position in the refrigerated dairy category through its chocolate-covered Greek yogurt bars, which combine a cheesecake-like texture with the nutritional characteristics of Greek yogurt.
The product originated when Konchakovskiy discovered that a batch of over-strained yogurt had developed an unusually thick consistency, reminding him of a dairy snack from his Eastern European childhood. He subsequently experimented with forming the yogurt into bars and coating them in chocolate, creating the product that became the foundation of Clio’s business.
Under CEO John McGuckin, who joined the company in 2021, Clio has more than quadrupled its revenue while expanding its manufacturing capabilities, retail distribution and product portfolio.
The company’s products are now available in approximately 60,000 retail locations throughout the US, demonstrating its progression from an emerging refrigerated snack business into a brand with substantial national distribution.
Clio operates an 86,000-square-foot manufacturing facility in Piscataway, New Jersey, where it expects to produce more than 150 million Greek yogurt bars during 2026. This anticipated production volume reflects the scale of its manufacturing activities and the operational demands associated with maintaining supply across a geographically dispersed retail network.
The business has expanded its original range of single-serve bars through additional flavors and product varieties, including smaller bars marketed in multipack formats. These developments have widened its offering and created opportunities to reach consumers across different snacking occasions.
Manufacturing capacity will remain a significant consideration as Clio pursues further expansion. Unlike shelf-stable snack bars, refrigerated dairy products require temperature-controlled production, storage and transportation, placing additional demands on inventory management, distribution scheduling and cold chain infrastructure.
Higher production volumes and a growing product assortment can increase operational complexity, particularly when manufacturers are supplying multiple retailers with different distribution requirements. Maintaining product consistency and controlling logistics costs will be important as Clio seeks to support further retail penetration.
Stride’s investment provides an opportunity to strengthen these capabilities while supporting product innovation and the additional manufacturing requirements associated with continued sales growth.
Protein demand is reshaping the US refrigerated snack market
The acquisition comes as demand for protein-rich foods continues to influence product development and purchasing decisions across the US food and beverage industry, with manufacturers introducing new formats that combine convenience, nutritional attributes and familiar indulgent flavors.
Research published by market intelligence company Circana in August 2026 found that 48% of US adults were seeking to increase their protein consumption, an increase of seven percentage points compared with the previous year.
Protein ranked second only to vegetables among the food categories and nutritional attributes consumers wanted to consume more frequently, indicating how widely protein-focused purchasing behavior has spread beyond traditional sports nutrition products.
The trend is influencing manufacturers across dairy, beverages, confectionery and prepared foods, where brands are responding with products that offer higher protein content without requiring consumers to make substantial changes to their eating habits.
Refrigerated yogurt products have benefited from growing consumer interest in convenient and nutritionally positioned foods. Circana reported in July 2026 that US yogurt dollar sales had increased 12.2%, accompanied by 5% growth in unit sales.
The difference between value and volume growth suggests that changes in pricing and product mix have contributed to category performance alongside higher unit demand, although the figures do not establish the individual contribution of each factor.
For Clio, these market conditions provide opportunities to position Greek yogurt beyond its conventional role as a breakfast food or spoonable dairy product. Its chocolate-covered bars are intended to appeal to consumers seeking a convenient snack that offers some of the nutritional characteristics of yogurt alongside the taste and texture associated with confectionery.
The format also places the brand in competition with products outside the traditional yogurt aisle, including protein bars, chocolate snacks and other refrigerated foods marketed for convenient consumption.
This positioning creates opportunities for manufacturers that can differentiate their products through texture, flavor and nutritional characteristics, particularly when consumers are increasingly interested in foods that serve several purchasing priorities.
Greater category competition also presents commercial challenges, as established food manufacturers continue introducing protein-focused products across different formats and price points.
For Clio, maintaining retail availability and repeat purchasing will be important as it expands its product portfolio. Its ability to increase distribution while controlling refrigerated manufacturing and logistics costs will influence the commercial performance of future products.
The investment from Stride comes at a point when Clio has an established manufacturing operation and national retail presence, providing a foundation for further expansion in a market where consumer interest in protein continues to influence product development.
Stride’s investment sets the stage for further expansion
Stride Consumer Partners specializes in growth equity investments in consumer brands, providing financial resources and operational expertise to businesses seeking to expand their market presence.
Its investment in Clio adds a refrigerated food manufacturer to a portfolio that includes protein-focused meat snack brand Chomps and children’s food company Serenity Kids.
Members of Stride’s investment team have previously backed Yasso, the frozen Greek yogurt brand acquired by Unilever in 2023, providing experience with the development and commercialization of alternative yogurt formats.
The Clio transaction follows Stride’s announcement in September 2026 that it had closed its second investment fund at $550 million, providing additional capital to support growing consumer businesses.
For Clio, the investment priorities identified in the acquisition announcement include accelerating brand development, increasing distribution, strengthening operational capabilities and introducing new products.
These objectives build on the company’s progress under McGuckin, whose leadership has coincided with substantial revenue growth and the expansion of its manufacturing and retail operations.
Further investment in production capabilities could help the manufacturer accommodate higher volumes and a broader product portfolio, although the company has not announced a specific factory expansion or additional manufacturing facility as part of the transaction.
The partnership may also provide greater resources for product development and marketing as Clio seeks to strengthen its position among retailers and consumers.
For Stride, the acquisition offers exposure to a manufacturer operating across the dairy and convenience-snacking categories, supported by a differentiated product format and an established distribution network.
The next stage of Clio’s development will depend on translating its existing retail presence into sustained sales growth while managing the manufacturing, supply chain and product development requirements associated with a larger business.
With annual revenue approaching $100 million and production expected to exceed 150 million bars in 2026, Clio enters the partnership with considerable operating scale. The commercial challenge will be maintaining its recent growth trajectory as distribution broadens and competition intensifies across the protein-rich refrigerated snacks category.
Source:
Inc.
