San Francisco, California, December 15th, 2025 – Encore Consumer Capital (“Encore”), a private equity firm that invests exclusively in leading consumer products companies, is pleased to announce the closing of a single-asset continuation vehicle for Lion Beverages, LLC (“Lion” or the “Company”).
The transaction, led by Apogem and including J.P. Morgan Asset Management, RCP Advisors, and Montana Capital Partners, closed with over $150 million in commitments, including significant participation by Encore. The meaningful GP commitment underscores both confidence in Lion and alignment with investors.
Lion, based in Wilkes-Barre, Pennsylvania, is a full-service contract manufacturer of specialty beverages including energy drinks, brewed beverages and better-for-you sodas. The Company offers brewing, blending, canning, bottling, and packaging services for an array of customers including large national beverage brands.
Since Encore’s initial investment in 2019, the Company has tripled EBITDA through the addition of a second high speed canning line and diversification of its customer base. Lion’s third high speed canning line is coming online in the first half of 2026.
Jamie Schwartz, Director at Encore Consumer Capital, said, “We are excited to continue to partner with Lion’s experienced management team and remain grateful for the ongoing support and trust of our investors. Lion has exceeded our expectations, and we are excited to offer liquidity to Encore Fund III LPs through this transaction. Our investment thesis remains unchanged – we feel Lion is well positioned for significant growth in the specialty beverage category over the next few years, and the team is ready to service it.”
CEO Jeff Meoni added, “Working with Encore we have built a strong foundation that has driven rapid growth, and we feel as though we are just getting started. With their continued support, we can expand Lion’s capabilities to further meet the needs of our customers.”
Latham & Watkins LLP represented Encore Consumer Capital in the transaction.
ABOUT ENCORE CONSUMER CAPITAL
Encore Consumer Capital is a private equity investment firm focused on the consumer products industry. The firm has raised over $1.25 billion in committed capital and invested in over 40 companies in the sector. Encore’s current and prior investments include food and beverage manufacturers and marketers, pet products companies, personal care/beauty companies, and food distribution companies. The firm targets companies with between $10 million and $150 million in annual revenues where Encore’s strong expertise in strategy development, brand marketing, manufacturing and supply chain optimization, and distribution expansion can drive performance.
http://www.encoreconsumer.com