GulfStar Group Acquires Alpha Foods Co.

GulfStar Group has acquired Alpha Foods Co. by MBC Companies, a portfolio company of Entrepreneurial Equity Partners.

Alpha, a privately held, family-owned frozen foods manufacturer based in Waller, Texas, was founded in 1984 by Greek immigrants George and Athena Sarandos. Alpha has grown from a regional foodservice distributor into a producer of frozen pizzas and pizza components for national accounts. Today, Alpha operates from a 115,000-sq.-ft. manufacturing and distribution facility serving customers including K-12 schools, grocery retailers and packaged foods brands.

“My husband George was deeply committed to securing Alpha Foods’ legacy and the futures of those who helped us build the company over the past 41 years,” says Athena Sarandos, co-founder of Alpha Foods. “While many firms wanted to buy our company, the best path forward was to combine with a company that shares our values, understands our business and protects what our people have built. I believe that with MBC, we have found a perfect match.”

Headquartered in McDonald, Tennessee, MBC manufactures and distributes frozen breakfast and lunch products, specializing in the production of French toast, waffles, pancakes, breakfast sandwiches, pizza and a variety 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 three production facilities in Pennsylvania, and with the addition of Alpha’s Texas facility, its manufacturing footprint now spans four locations across three states, encompassing more than 550,000 sq. ft. of total production space and nearly 1,000 employees.

The Alpha acquisition marks MBC’s second significant investment in the pizza category in 2025, following its acquisition of Nardone Brothers Baking in January. Together, these investments position MBC as a one-stop solution for frozen meals across all dayparts – from breakfast to lunch to late-night dining – serving the evolving needs of its customers.

“We are truly honored that the Sarandos family selected GulfStar to guide them through this generationally important transaction,” says Scott Winship, managing director of GulfStar. “We would like to overtly acknowledge the tremendous spirit of teamwork and impassioned effort put forth by the entire family throughout the process. It was a distinct privilege to serve this wonderful family, and we are thrilled in achieving an optimal outcome that cements an extraordinary legacy started by George and Athena and carried forward under the impressive stewardship of the next generation.”

GulfStar served as the exclusive financial advisor to Alpha throughout the transaction, which closed on Sept. 10.