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Encore Consumer Capital beats $200m target for second fundraise

20 Dec 2012

Consumer goods-focused private equity firm Encore Consumer Capital has beaten its target for its second buyout fund by holding a $211m final close.

Most of the commitments for Encore Consumer Capital Fund II were re-ups from its 2005 vintage vehicle, which gathered $175m thanks to LPs including Fairview Capital Partners, BAML Capital Access Funds, Hatteras Funds and 747 Capital.

AltAssets revealed last month that San Francisco-based Encore was approaching its $200m target after receiving $187.25m of commitments.

The firm said it planned to continue its strategy of investing in lower mid-market companies with leading positions in attractive segments of the consumer products industry.

Encore co-founder and managing director Robert Brown, pictured, said, “Our firm is uniquely positioned due to our focus on companies with between $10m and $100m in revenues and our ability to bring operating expertise to the table.

“Partnering with successful entrepreneurs and family-owned businesses to bring them insightful counsel, growth strategies, and opportunities for liquidity is our hallmark.”

Encore’s only exit to date is the $87m sale of premium sausage and meatball maker Aidells Sausage Company to Sara Lee in June this year.

Its other portfolio companies include mussel farmer Atlantic Aqua Farms, ice cream supplier Ciao Bella Gelato and natural skin care product maker MyChelle Dermaceuticals.

The fund has an exclusive partnership with food and consumer products advisory company Encore Associates, allowing it to aid its portfolio companies in areas such as growth strategy, brand development and distribution expansion.

MVision Private Equity acted as placement agent and Latham & Watkins as legal counsel for Encore’s latest fundraise.

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