Private equity investor Alliance Consumers Growth (ACG), announced an investment in greek yogurt snacking brand Clio. Sold in more than 2,000 doors, Clio produces a chocolate dipped greek yogurt bar.
The brand declined to disclose the exact amount for the investment, but told NOSH that ACG is the only investor in the brand.
ACG, which has invested in companies including barkTHINS, Krave Jerky, Cookie Chips and Way Better Snacks, brings a strategic background in brands targeting the snack space. Julian Steinberg, ACG co-founder, told NOSH that the group was particularly attracted to the yogurt category.
“Yogurt is a huge category, and it has recently undergone massive disruption through the introduction of Greek yogurt,” Steinberg said.
“We believe Clio is the next generation of yogurt disruption – delivering not only a new bar format but also incremental occasions to the category.”
Clio bars, which are typically found in the yogurt or refrigerated bar set, are currently sold in retailers such as Harris Teeter, Market Basket, ShopRite, Whole Foods Market‘s Northeast region, and Walmart.
Each bar retails for $1.39 and is available in six flavors. Clio has undergone several major changes in the past year.
Heather MacNeil Cox joined the company in...
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