Clio Snacks, a Piscataway, NJ-based model that sits on the intersection of yogurt and refrigerated snacking, raised a strategic capital elevate of undisclosed quantity.
The spherical was led by Alliance Consumer Growth (ACG), with participation from Maria Sharapova, and Jayson Tatum.
The firm intends to make use of the funds to additional increase its retail distribution footprint and proceed to construct market share, whereas rising the model’s family penetration, enhancing its manufacturing amenities, and accelerating its positioning out there.
Led by CEO John McGuckin, Clio Snacks is a refrigerated bar model providing handheld Greek Yogurt Bars out there in a number of varieties: Original, Minis, Less Sugar and Granola & Yogurt Parfait. Clio merchandise mix the advantages of complete milk Greek yogurt, which is excessive in protein and probiotics, with a cheesecake-like texture and darkish chocolatey coating. Its snacks can be found in grocery shops nationwide.
In addition to finishing this newest capital elevate, Clio has appointed two new members to its government management crew: John Thompson as Chief Financial Officer and Rafael Rodas as Chief Operating Officer. Coinciding with this elevate, the model expects to succeed in profitability in 2023, whereas sustaining robust gross margins and substantial income progress.