Long-term food and beverage investment firm
Clover Capital Partners
- HeadquartersEvanston, IL S1
- Founded2011 S6
- Websiteclovercp.com
- Last verifiedNovember 3, 2026
At a glance
| Revenue range | Up to $100M S2 |
|---|---|
| Deal types | Platform, Add-on S6 |
| Sectors | Consumer & Food |
What Clover Capital Partners buys
Clover Capital Partners is a small Evanston, Illinois firm that has invested in food and beverage makers since 2011. Its two co-founders, David Choe and Alex Schneider, each have about 20 years of experience investing in middle market companies. Clover mostly buys control of profitable companies with up to $100 million of annual sales, works with only a few companies at a time, and can step into operating roles when needed. Its capital base lets it hold a business indefinitely instead of selling within the usual three to seven years.
It names three kinds of sellers it suits: owner-operators who want to stay involved and grow with a partner, owners heading toward retirement or a gradual step back, and managers who want to buy out an owner. Current companies include a wholesale bakery, a chocolate maker, a pouched beverage and frozen treat maker, and Felbro, a Los Angeles maker of syrups, sauces and drinks recapitalized in March 2025 with Evanston Partners. A separate venture affiliate, Clover Vitality, backs young food brands.
Recent deals
Announced in the 24 months before November 3, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| 2026 | Sunny Dell SpecialtyMaker of value-added soups, sauces and broths; Clover lists it as exited in 2026 | Exit | Consumer & Food | Source |
| Mar 2025 | Felbro Food Products (now Felbro Culinary Specialties)Los Angeles food and beverage maker founded in 1946; co-led with Evanston Partners, giving the Feldmar family liquidity while a family member stays in a senior role | Platform | Consumer & Food | Source |
| 2025 | Jo's CandiesChocolate confection maker recapitalized in 2025 | Platform | Consumer & Food | Source |
| 2025 | Main Street GourmetWholesale commercial bakery recapitalized again in 2025, following an earlier recapitalization in 2019 | Investment | Consumer & Food | Source |
Portfolio by sector
From the firm's portfolio page S3.
Portfolio
- Main Street Gourmet
- Big Easy Blends
- Felbro Culinary Specialties
- Jo's Candies
Past investments: Sunny Dell Specialty
Greymont’s take
How Clover Capital Partners fits a seller
Clover is a good match for owners of food or beverage manufacturing companies with under $100 million of sales who care about what happens to the business after they sell. Its long-term capital means it is not on a fixed clock to resell, and both co-founders joined Felbro's board as directors. In the March 2025 Felbro deal, a family company founded in 1946, the founding family received significant liquidity, a third-generation family member stayed in a senior role, and the company said it would look for add-on acquisitions.
Because Clover is a two-partner firm, an owner should ask how much time the partners can give the business and whether Clover plans to bring in a new leader, as it did when a new president joined Felbro at closing. It is also worth asking which co-investors, such as Evanston Partners, would join the deal.
Questions owners ask
What size of company does Clover Capital Partners invest in?
It invests mainly in control deals for profitable food and beverage companies with up to $100 million of annual sales. It does not publish an EBITDA range or a minimum investment size.
Does Clover have to sell a company after a few years?
No. Clover says its capital base lets it hold investments indefinitely, compared with the three to seven year holding period that is typical for private equity funds.
Can a management team use Clover to buy out an owner?
Yes. Clover says it backs management teams that want to buy out an owner and take more ownership, as well as owners who plan to retire or step back gradually.
Sources
- S1Clover Capital Partners home page Accessed November 3, 2026
- S2Clover Capital Partners: Focus Accessed November 3, 2026
- S3Clover Capital Partners: Portfolio Accessed November 3, 2026
- S4Clover Capital Partners: Team Accessed November 3, 2026
- S5Clover Vitality (venture affiliate) Accessed November 3, 2026
- S6Felbro Food Products Recapitalized by Management and New Investor Group (March 5, 2025) Accessed November 3, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Clover Capital Partners. Figures are as reported on the dates shown and may have changed. Request a correction