Shore Capital Partners, a Chicago-based private equity firm with offices in Nashville, announced the closing of its third food and beverage fund, Shore Capital Food & Beverage Partners Fund III, with over $450 million in capital commitments. The closing brings Shore’s total assets under management to about $13 billion.
In connection 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,g and distribution.
Shore’s food and beverage strategy has sustained its momentum over the past year, with several portfolio companies achieving significant scale. Whetstone Distribution and FirmaPak were recently acknowledged as the region’s fastest-growing companies. In May 2025, Shore announced the recapitalization of Sweetmore Bakeries through a special purpose vehicle to facilitate its continued expansion.
F&B Fund III was substantially oversubscribed, receiving support from both existing and new limited partners, including university endowments, financial institutions, funds of funds, and family offices. The partners at Shore also made substantial capital commitments, reinforcing their alignment with investors and demonstrating continued confidence in the platform.
F&B Fund III will maintain Shore’s focused approach to investing in lower-middle-market companies across food and beverage manufacturing, packaging, distribution, and related services. The fund aims to partner with founders and management teams of businesses generating $5 million to $100 million in revenue, seeking to accelerate growth through hands-on operational support, strategic mergers and acquisitions, and access to Shore’s broader array of resources.
Advisor: Kirkland & Ellis served as legal advisor to Shore. The firm did not use a placement agent.
KEY QUOTES:
“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. 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. 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.”
Justin Ishbia, Founder and Managing Partner of Shore
“We’ve built a strong foundation in food and beverage by focusing on segments where our operational playbook can unlock substantial value. 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.”
Richard Boos, Partner at Shore and leader of the firm’s food and beverage strategy
