Shore Capital Partners (Shore Capital), a private equity firm focused on microcap investments within the healthcare and food and beverage industries, has secured a recapitalisation of Main Street Gourmet (MSG), a wholesale bakery based in Akron, OH.
MSG is a custom wholesale bakery providing frozen baked goods to retail in-store bakery and specialty foodservice customers nationally.
Shore Capital is partnering with Co-Founders, Steve Marks and Harvey Nelson and the previous majority shareholders, Clover Capital Partners to recapitalise MSG. Shore plans to invest in the business development, sales and marketing and production and infrastructure to further enhance operations and explore opportunities for organic and inorganic growth.
“I have high aspirations for what we can collectively accomplish alongside Shore Capital and are excited to partner with a group that understands our value proposition as a custom, value-added supply chain partner. We continue to strive to be highly responsive with product development, able to commercialize new ideas in collaboration with our customers, and maintain flexibility to work with unique ingredients and processes,” says Marks.
Nelson says: “Our partnership with Shore Capital will allow us to accelerate our organic growth through expanding on our product capabilities, serving additional retail ISB and specialty foodservice customers and broadening our footprint by pursuing acquisitions with other differentiated bakeries in adjacent categories and channels.”
