In a significant transaction, private-equity-backed baked goods group MBC Companies has been acquired by US-based private-equity firm Entrepreneurial Equity Partners (E2P). The financial details of this deal have not been disclosed. Previously owned by San Francisco-based Encore Consumer Capital since its establishment in 2019, MBC Companies was formed through the acquisition of Murry’s in 2019 and more recently Bake Crafters in 2022.
Murry’s specializes in frozen French toast products sold to private-label retail and foodservice markets, while Bake Crafters manufactures and distributes breakfast and baked goods exclusively to the foodservice industry. This acquisition represents a significant milestone for Encore Consumer Capital. Kate Wallman, the managing director of Encore Consumer Capital, expresses enthusiasm over their successful partnership with MBC’s chairman, Ira Mendelson, and applauds the tremendous growth achieved during Encore’s investment.
Ira Mendelson acknowledges Encore’s strategic guidance and support, which allowed MBC to make a transformational add-on acquisition. Furthermore, the partnership enabled MBC to recruit CEO Jeff Ahlers from Encore’s extensive network of food manufacturing executives. Ahlers is looking forward to leading MBC in its next phase under E2P’s ownership, confident in the business’s continued expansion.
E2P, based in Chicago and specializing in consumer food brands, has recently made an additional investment in frozen goods with its stake in Furlani Foods, a Canadian company supplying frozen garlic bread. In 2021, E2P invested an undisclosed amount into plant-based beverage company Ya Ya Foods. E2P also oversees World Food Holdings, resulting from the merger between Kronos Foods and Grecian Delight Foods in 2020.
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