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Gary Smith
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Gary Smith

Operating Partner

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At a glance

Full Name
Gary Smith
Title
Co-Founder & Operating Executive / Operating Partner
Firm
Encore Consumer Capital
Firm Type
Private equity firm focused on consumer products (not an angel/seed investor — the stub's "Angel Investors / Seed Round" is inaccurate)
Investment Stage
Growth equity and buyout — majority and significant-minority positions in established, revenue-generating consumer brands
Check Size
$5M – $50M equity per investment (firm-level)
Target Company Profile
Established consumer products companies with $10M – $150M of revenue, majority of revenue in North America
Sector Focus
Consumer products — food, beverage, personal care & beauty, pet products, household products, private label & contract manufacturing, food service & ingredients, and food distribution
Geographic Focus
North America (majority of revenue in North America)
Location
San Francisco, California (111 Pine Street, Suite 1825, San Francisco, CA 94111)

Background

Gary Smith co-founded Encore Consumer Capital in 2005 alongside investors Robert Brown and Scott Sellers, bringing decades of operating experience from the consumer-products and grocery-retail world. Encore was built specifically to help consumer products companies grow, and Smith serves as the firm's operating executive/operating partner — the industry practitioner among the founding team rather than a pure financier.

Before Encore, Smith founded Encore Associates in 2001, a consumer-industry advisory business, after a long career at Safeway. At Safeway he rose to Senior Vice President of Marketing over roughly four decades with the company. During his tenure he helped develop several programs that became industry standards, including Safeway's category-management process, its customer loyalty card, and its premium private-label program. In 1998 he was named the Private Label Manufacturers Association's "Retailer of the Year" for building the Safeway SELECT brand.

In his role at Encore, Smith applies that operating and retail-relationship expertise to portfolio companies, sitting on their boards and helping with go-to-market, retail distribution, and brand strategy. He currently serves as a director of Brownie Brittle, Fantasy Cookie, and Pint Size Hawaii, and has previously been a director of former Encore portfolio companies including Aidells Sausage Company, Caterina Foods, FreshKO, Mesa Foods, and PhillySwirl.

Investment Thesis & Focus

  • Invests exclusively in consumer products businesses across eight categories: food, beverage, personal care & beauty, pet products, household products, private label & contract manufacturing, food service & ingredients, and food distribution.
  • Targets established, revenue-generating brands ($10M–$150M revenue), not startups — writing $5M–$50M equity checks for majority or significant-minority stakes.
  • Backs three primary situations: shareholder liquidity events, growth capital for cash-constrained businesses, and acquisition capital to fund strategic M&A/roll-ups.
  • Stated philosophy: *"adding value to our investments is our most important capability."* Encore leans on hands-on operating expertise, industry knowledge, and retail relationships rather than capital alone.
  • Smith's personal value-add is retail and marketing: category management, private-label strategy, and grocery/retailer relationships drawn from his Safeway career.

Notable Investments

  • MBC Companies — frozen breakfast-foods platform built from Murry's Inc. (2019) and Bake Crafters Food Company (2022); sold to Entrepreneurial Equity Partners and described as the largest dollar-return exit in Encore's 18-year history.
  • Navitas Organics — superfoods brand; sold to Laird Superfood, Inc. in March 2026.
  • Quinoa Corporation (Ancient Harvest & Pamela's brands) — full exit via majority acquisition by Saco Foods, August 2024.
  • DeIorio's — manufacturer of customized pizza dough balls, pre-formed crusts and shells; acquired by Encore in October 2024.
  • Supergoop! — sun-care/skincare brand; noted among Encore's successful exits.
  • Ciao Bella Gelato — premium gelato brand; a realized Encore exit.
  • Aidells Sausage Company — premium sausage maker; former portfolio company (Smith served as director).
  • Brownie Brittle, Fantasy Cookie, Pint Size Hawaii — current portfolio companies where Smith holds board seats.

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