Stride Consumer Partners LLC has acquired Alliance Consumer Growth LLC holding Clio Snacks LLC.

Piscataway, N.J.-based Clio didn’t disclose the financial terms of the transaction in a Tuesday, Oct. 6, statement.

The Deal in November reported Clio’s owners were working with Piper Sandler Cos. to solicit buyers, with the sellers targeting a valuation north of 10 times its Ebitda of roughly $15 million for the maker of refrigerated Greek yogurt bars.

Founded in 2015 by Sergey Konchakovskiy, Clio is a vertically integrated brand focused on high-protein refrigerated Greek yogurt bars in various flavors and sizes. The company sells through retailers including Whole Foods, Target, Walmart, Sam’s Club, Publix, Kroger and Albertsons, and has expanded from single-serve original bars into new flavors and mini multipack formats.

Clio’s products are sold in about 60,000 stores nationwide, and the company is on track to produce more than 150 million bars this year at its 86,000-square-foot manufacturing facility in Piscataway. Clio said revenue has more than quadrupled since CEO John McGuckin joined in 2021.

ACG invested in Clio in 2018 and continued to back the company through later financings. ACG led Clio’s $8 million funding round in August 2020, alongside AF Ventures, and also led a 2022 strategic capital raise that included investors such as athletes Maria Sharapova and Jayson Tatum.

Stride said the investment will support Clio’s next phase of growth through brand building, expanded distribution, operational capabilities and product innovation. The firm said it has followed Clio for years and sees the company as a differentiated brand in better-for-you snacking.

New York-based ACG typically invests $10 million to $50 million of equity per company and targets businesses with annual revenue of $5 million to more than $50 million.

It closed a $160 million fifth fund in 2024.

Boston-based Stride focuses on investing in consumer brands and services companies with revenue between $10 million and $150 million, investing $10 million to $150 million.

Last month its closed its second fund with $550 million in commitments.

Ropes & Gray LLP was counsel to Stride on the Clio Snacks acquisition.