Latest fundraise and promotions build on Shore’s track record of scaling high-growth food and beverage platforms

Shore Capital Partners (“Shore Capital” or “Shore”), a Chicago-based private equity firm with offices in Nashville, today announced the successful 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 close brings Shore’s total assets under management to approximately $13 billion.

In conjunction with this milestone, Shore also announced the promotions of Tom Smithburg, Jeff Smart and Jeff Smith to Partner. All three have played instrumental roles in the development and expansion of Shore’s food and beverage platform, which includes more than a dozen high-growth companies across specialty food brands, packaging, manufacturing and distribution.

“The close of our third food and beverage fund reflects both the strength of our platform and the continued opportunity we see in this sector,” said Justin Ishbia, Founder and Managing Partner of Shore. “Food and beverage remains one of the most active and resilient areas of the lower middle market, with meaningful growth potential through operational excellence and strategic discipline.”

“We’re proud of all that Tom, Jeff and Jeff have accomplished as key leaders within our food and beverage platform,” Ishbia continued. “Their promotion to Partner reflects the impact they’ve made, and we look forward to their continued leadership as we advance Fund III and our partnerships with founders and entrepreneurs.”

Shore’s food and beverage strategy has continued gaining momentum over the past year, with several portfolio companies achieving transformational scale. Whetstone Distribution and FirmaPak were recently named to Crain’s Chicago’s Fast 50 list of the region’s fastest-growing companies, and in May 2025, Shore announced the recapitalization of Sweetmore Bakeries through a special purpose vehicle to support its continued growth.

“We’ve built a strong foundation in food and beverage by focusing on segments where our operational playbook can unlock substantial value,” said Richard Boos, Partner at Shore and leader of the firm’s food and beverage strategy. “With Fund III, we’re continuing to expand into subverticals like produce distribution, vending, and others where we see market fragmentation and demand for scaled resources. The depth of our team has been key to driving results, and we’re excited to continue that momentum with Tom, Jeff and Jeff’s leadership as Partners.”

F&B Fund III was substantially oversubscribed, receiving strong support from both existing and new limited partners, including university endowments, financial institutions, funds of funds and family offices. The partners of Shore also committed a substantial amount of capital, reinforcing their alignment with investors and continued confidence in the platform.

F&B Fund III will continue Shore’s focused approach to investing in lower middle market companies across food and beverage manufacturing, packaging, distribution and related services. The fund seeks to partner with founders and management teams of businesses generating $5 million to $100 million in revenue, and accelerate growth through hands-on operational support, strategic M&A, and access to Shore’s broader platform of resources.

The fund is led by Ishbia, Boos, and newly-promoted Partners Smithburg, Smart and Smith. Kirkland & Ellis LLP served as legal advisor to Shore. The firm did not use a placement agent.

About Shore Capital Partners

Shore Capital, a Chicago-based private equity firm with offices in Nashville, is an investor in lower middle market companies in the Healthcare, Food and Beverage, Business Services, Industrial, and Real Estate industries. Shore’s strategy is to support management partners to grow faster with less risk through access to capital, world-class board and operational resources, and unmatched networking, development, and shared learnings across the portfolio. From 2020-2024, Shore received recognition from Inc Magazine as a 5x Top Founder Friendly Investor and by Pitchbook Research for leading U.S. Private Equity deal volume for the past 10 years, from 2015-2024. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant potential to grow through industry consolidation and organic growth to generate value for shareholders. Shore has approximately $13 billion of assets under management and in additional investment platforms to which it provides business and operational consulting services. For more information on these awards and investment platforms, please visit: www.shorecp.com.

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