Kingswood Capital Management LP has completed a strategic investment in Soulshine Farms LLC & Pearl River Foods, a provider of poultry further-processing solutions.

 All three founders, Michael Farmer, Eric Reeves and Drew Hill, will remain shareholders and hold executive leadership roles at the company. Effective at closing of the transaction, protein industry veteran and Kingswood Operating Partner John Niemann will assume the role of the company’s executive chairman.

Founded in 2018, Soulshine Farms is a leading poultry processing company specializing in portioning and deboning, marination and packaging, and custom sizing and shaping. Soulshine Farms produces value-added poultry products for leading national foodservice brands, retail, and other protein distribution channels. The company processes over 6 million pounds of protein weekly through its three processing plants, totaling 185,000 square feet of production space spread in Gainesville, Ga., and Carthage, Miss.

“In Kingswood, we found an operationally focused partner willing to work alongside us to invest in the business, while preserving the qualities that we believe make Soulshine Farms unique and give us a competitive advantage,” said Michael Farmer, Eric Reeves, and Drew Hill. “With Kingswood’s investment, we’re looking forward to our next chapter of growth while continuing to deliver the quality and reliability that our customers have come to expect. Our success has always been driven by the dedication of our employees and the culture we’ve built together, and we look forward to welcoming Kingswood as our new partner.”

“Michael, Eric, and Drew have built an impressive company dedicated to producing high-quality products with top-tier customer service,” said Andrew Kovach, partner at Kingswood. “We have a shared vision for the future, and we’re looking forward to partnering with the entire Soulshine Farms team, bringing in resources and operational expertise to expand its capacity and capabilities to support continued growth with their customers.”

“We saw an opportunity in Soulshine Farms that was right out of our playbook–a founder-led company with strong fundamentals, a solid market position, and a loyal customer base–seeking its first institutional capital,” added Alex Wolf, founder and managing partner of Kingswood. “By working with the founders and John Niemann, a seasoned Kingswood operating partner with deep experience in the industry, we see significant growth potential ahead for the company and an ability to capitalize on favorable protein market tailwinds.”

This represents Kingswood’s seventh investment in the food and beverage sector, and its second protein-focused asset, seeking to further strengthen the firm’s leadership and operational expertise in the space. It also represents Kingswood’s latest investment in a founder-led company, underscoring the firm’s continued commitment to partnering with founders to drive growth.

Barclays served as exclusive buyside advisor to Kingswood in connection with the transaction. Kirkland & Ellis acted as legal advisor to Kingswood. JGH Consulting advised Soulshine Farms on the transaction.

Source: Kingswood Capital Management LP