e2p Acquires MBC Companies

Entrepreneurial Equity Partners (“e2p”), a Chicago-based private equity firm focused on the food and consumer packaged goods industries, announced today that it has acquired MBC Companies (“MBC” or the “Company”), in partnership with the existing management team, from Encore Consumer Capital. Financial terms of the transaction were not disclosed.

Based in McDonald, TN, MBC is a diversified frozen breakfast platform formed through a merger of two complementary assets, Murry’s and Bake Crafters. Founded in 1948, Murry’s manufactures private label French Toast sticks, catering primarily to the grocery and mass retail sectors. Bake Crafters was founded in 1989 as a wholesale bakery sales and distribution company and grew into a manufacturer and distributor of frozen breakfast items and other baked goods serving the K-12 foodservice sector. Recognizing the opportunity for growth and expansion, Murry’s acquired and simultaneously merged with Bake Crafters into MBC Companies in early 2022.

The merger between Murry’s and Bake Crafters created a large-scale frozen breakfast asset that provides a diversified customer and channel mix. MBC offers an expanded range of manufacturing capabilities, allowing for increased production efficiency and greater flexibility in meeting customer demands. The Company’s product portfolio includes French Toast sticks, waffles, pancakes, breakfast sandwiches, and an array of other baked goods. This expanded range of offerings enables MBC to offer a one-stop destination for frozen breakfast items, catering to retail and foodservice sectors.

“We are excited to bring together the strengths and expertise of the MBC and e2p teams,” commented Mark Burgett, Managing Partner at e2p. “We believe that this acquisition is a strong fit with e2p’s core strategy of partnering with market leading food manufacturing businesses with both organic and inorganic growth opportunities. With enhanced manufacturing capabilities and a diversified product offering, we believe MBC is well-positioned to meet the evolving needs of our customers, drive new product innovation across channels, and continue to lead growth in the frozen breakfast market.”

Jeff Ahlers, MBC Companies CEO, added, “As MBC embarks on this exciting new chapter with e2p, it remains committed to upholding the values and traditions that have guided MBC Companies as both Murry’s and Bake Crafters throughout their esteemed histories. The partnership represents a harmonious combination of investment expertise, operational excellence, and manufacturing capabilities, which we believe will allow MBC to continue to deliver exceptional products and service.”