– Shore Capital Partners, a Chicago-based private equity firm with an office in Nashville, announced the close of its third food and beverage fund, Shore Capital Food & Beverage Partners Fund III (“F&B Fund III”), with over $450 million in capital commitments.
– The fund close brings Shore’s total assets under management (AUM) to approximately $13 billion.
– Tom Smithburg, Jeffrey S., and Jeff Smith were promoted to Partner in recognition of their leadership in building the food and beverage platform.
– Shore’s food and beverage platform includes over a dozen high-growth companies across specialty food brands, packaging, manufacturing, and distribution.
– Founder and Managing Partner Justin Ishbia highlighted food and beverage as one of the most active and resilient areas of the lower middle market.
– Recent portfolio successes include:
▪️Whetstone Distribution and FirmaPak being named to Crain’s Chicago’s Fast 50 list.
▪️A recapitalization of Sweetmore Bakeries in May 2025 via a special purpose vehicle to support its growth.
– Shore’s strategy focuses on segments where its operational playbook can unlock value, including new subverticals such as produce distribution and vending.
– Richard Boos, Partner and leader of Shore’s food and beverage strategy, emphasized the importance of team depth and market fragmentation as drivers of opportunity.
– F&B Fund III was significantly oversubscribed and backed by existing and new limited partners such as university endowments, financial institutions, funds of funds, and family offices.
– Shore’s partners also made substantial capital commitments to the fund, aligning their interests with those of investors.
– The fund will continue to target lower middle market companies with $5 million to $100 million in revenue, offering operational support, strategic M&A, and platform-wide resources.
