Clio Snacks, a Piscataway, NJ-based brand that sits at the intersection of yogurt and refrigerated snacking, raised a strategic capital raise of undisclosed amount.
The round was led by Alliance Consumer Growth (ACG), with participation from Maria Sharapova, and Jayson Tatum.
The company intends to use the funds to further expand its retail distribution footprint and continue to build market share, while growing the brand’s household penetration, enhancing its manufacturing facilities, and accelerating its positioning in the market.
Led by CEO John McGuckin, Clio Snacks is a refrigerated bar brand offering handheld Greek Yogurt Bars available in several varieties: Original, Minis, Less Sugar and Granola & Yogurt Parfait. Clio products combine the benefits of whole milk Greek yogurt, which is high in protein and probiotics, with a cheesecake-like texture and dark chocolatey coating. Its snacks are available in grocery stores nationwide.
In addition to completing this latest capital raise, Clio has appointed two new members to its executive leadership team: John Thompson as Chief Financial Officer and Rafael Rodas as Chief Operating Officer. Coinciding with this raise, the brand expects to reach profitability in 2023, while maintaining strong gross margins and substantial revenue growth.