San Francisco Consumer Shop Makes Quick Progress on Fund II


Encore Consumer Capital, a private equity shop that focuses on small consumer product companies, had an interim $100 million close on its second fund, Encore Consumer Capital II LP, according to a source with knowledge of the firm’s plans.

The San Francisco-based firm, which oversees $175 million in committed capital, was founded in 2005 by Scott Sellers and Robert Brown, who came from Swander Pace Capital, another consumer products private equity firm, and Gary Smith, who founded Encore Associates, an affiliated firm that offers strategic advice to the consumer products industry.

Encore Consumer Capital invests primarily in food and beverage companies, makers of personal-care and household products, as well as makers of sporting goods and pet products.

Ciao Bella, an Encore portfolio company

Ciao Bella, an Encore portfolio company

The company seeks out US firms that have between $10 million and $100 million in revenues, as well as positive cash flows. Encore does not invest in restaurants or retailers, according to a company description.

The firm started raising Fund II in mid-October, and it has an overall target of $200 million, according to the source. The fund is set to make equity investments of between $5 million and $20 million.

Portfolio investments of Fund I include Ciao Bella Gelato, which it still owns, and Aidells Sausage Co., which it sold to Sara Lee Corp. for $87 million in June, 2011.

Investors in the new fund include funds of funds and family offices. The placement agent is MVision and its legal council is Latham & Watkins.

Gregory Roth is a senior editor at Buyouts Magazine and peHUB. Follow his tweets @RothReuters. Follow Buyouts tweets @Buyouts.

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