US yogurt-bar producer Clio Snacks has been sold to private-equity investor Stride Consumer Partners.

While the financial terms of the deal were not disclosed, Clio described the deal as a “majority” investment.

In a statement, Clio said the transaction would “drive continued investment across key areas”, including “brand building, expanded distribution, operational capabilities and innovation”.

Just Food has asked Clio for further details on its plans.

In the statement, CEO John McGuckin said: “When I joined Clio [in 2021], we already had an incredible product and a passionate consumer base. 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.”

The company, founded in 2015 by Sergey Konchakovskiy, said it has “more than quadrupled revenue” under McGuckin, who has “rapidly scaled its retail footprint, manufacturing capabilities and portfolio”. McGuckin joined from US dips and yogurt business Novus Foods in 2021.

Clio owns an 86,000-square-foot manufacturing facility in Piscataway, New Jersey and expects to produce more than 150 million bars this year.

The transaction follows earlier investment in Clio from Alliance Consumer Growth, which backed the company in 2018 and led subsequent funding rounds in 2020 and 2022.

Stride partner Juan Marcos Hill added: “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.”

Stride’s food and beverage portfolio includes meat-snack brand Chomps and children’s food company Serenity Kids.