Today, MBC Companies (MBC), a diversified frozen breakfast company, announced the acquisition of Nardone Brothers Baking Co. (Nardone), a leading manufacturer of frozen pizza products serving the K-12, private label retail, and broader foodservice channels. Combining the two companies meaningfully expands MBC’s product portfolio beyond the breakfast daypart, adding lunch, dinner, and late-night dining. The acquisition also adds production capacity, opportunities for greater product innovation, and sharing of best practices that will benefit all MBC and Nardone customers.
Headquartered in McDonald, Tennessee, MBC is a manufacturer & distributor of frozen breakfast products specializing in French toast sticks, waffles, pancakes, breakfast sandwiches, and an array of other baked goods. MBC serves diverse end markets, including K-12 schools, private label retail, convenience stores, and quick-serve restaurants. MBC currently operates two production facilities in Lebanon, Pennsylvania. Adding the nearby Nardone facility increases its manufacturing footprint to three locations.
Nardone Brothers Baking Co., founded in 1942, is a frozen pizza manufacturer based in Wilkes-Barre, Pennsylvania. A third-generation family business, current key leaders include Vincent, Mario and Thomas Nardone. The company produces a broad range of pizza products at its modern 152,000 square-foot facility. Employing over 400 people, Nardone primarily serves school lunch programs, private label retail, and convenience stores across North America. Its product portfolio includes multi-serve round pizzas, stuffed crust, self-rising crust, French bread pizzas, breakfast pizzas, and more.
“Nardone is an exceptional fit for MBC, with highly complementary strengths and capabilities,” said Jeff Ahlers, MBC CEO. “Both are family-founded with people-first, customer-focused cultures. Together, the businesses now cover all dayparts, from breakfast to late-night dining. Nardone’s product portfolio and channel focus align seamlessly with MBC’s, unlocking opportunities for cross-selling across our core K-12, private label, and broader foodservice channels and solidifying our position as a one-stop solutions provider. This wider array of products brings new value to all our customers. Our combined production expertise will also drive continued innovation and growth across the platform.”
MBC and Nardone participate in attractive frozen food categories, supported by strong tailwinds from rising consumer demand for convenient, high-quality, and innovative products. Analysts project the $2.3B frozen breakfast category to grow at a 7.4% CAGR through 2030 and the $23.6B frozen pizza category to grow at a 8.1% CAGR during the same period.
“Nardone has grown through three generations by listening to customers and making continuous strategic investments in equipment and technology,” said Vincent Nardone, Nardone President. “For the next stage in our growth, we sought out a strategic partner that shares our people-first values, understands our customers, and has the resources to build upon the legacy we have created.”
Terms of the transaction were not disclosed.
About MBC Companies
Headquartered in McDonald, Tennessee, MBC is a leading frozen breakfast platform formed in 2022 through the merger of two family-owned businesses, Murry's (est. 1948) and Bake Crafters (est. 1989). The company manufactures & distributes French toast sticks, waffles, pancakes, breakfast sandwiches, and an array of other baked goods. With two production facilities in Lebanon, Pennsylvania, MBC serves diverse end markets, including K-12 schools, private label retail, convenience stores, and quick-serve restaurants. In July 2023, MBC was acquired by Chicago-based private equity firm, Entrepreneurial Equity Partners (e2p), positioning it for further growth and innovation within the frozen meals sector. More information on MBC Companies can be found at mbccompanies.com.
About Entrepreneurial Equity Partners (e2p)
e2p is a middle market, Chicago-based private equity firm focused on control-oriented investments in the food and consumer packaged goods industries. e2p’s team includes experienced food and consumer packaged goods executives and investors who bring an entrepreneurial mindset and extensive industry network to support and collaborate with portfolio company teams. For further information, please visit www.e2p.com.
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