Exhibit 99.1

[Logo of Michael Foods, Inc.]


		NEWS
	301 Carlson Parkway ¡ Suite 400 ¡ Minnetonka, MN 55305 ¡ (952) 258-4000 FAX (952) 258-4911 Visit Michael Foods, Inc. on the Internet: www.michaelfoods.com

CONTACT:	Mark D. Witmer Treasurer & Secretary (952) 258-4906

For Immediate Release

MICHAEL FOODS REPORTS FOURTH QUARTER RESULTS

MINNETONKA, March 25 — Michael Foods, Inc. today reported financial results for the fourth quarter of 2009. Net earnings for the quarter ended January 2, 2010 were $19.6 million, compared to $13.3 million in 2008, an increase of 47%. Net sales for the quarter ended January 2, 2010 were $390.3 million, compared to $484.3 million in 2008, a decrease of 19%. Net earnings for the year ended January 2, 2010 were $69.5 million, compared to $46.9 million in 2008, an increase of 48%. Net sales for the year ended January 2, 2010 were $1,542.8 million, compared to $1,804.4 million in 2008, a decrease of 14.5%. 2008 was a 53-week year; the additional week represented 4% of the net sales for the quarter ended January 3, 2009 and approximately 1% of the net sales for the year ended January 3, 2009.

Earnings before interest, taxes, depreciation and amortization and other adjustments (EBITDA, as defined in Michael Foods’ credit facility) for the quarter ended January 2, 2010 were $54.1 million, compared to $54.2 million in 2008. EBITDA for the year ended January 2, 2010 was $214.4 million, compared to $200.0 million in 2008, an increase of 7%. Michael Foods, Inc. uses EBITDA as a measurement of financial results, as an indication of the relative strength of its operating performance and to determine incentive compensation levels.

Commenting on the results, Chief Executive Officer and President James E. Dwyer, Jr. said, “Our fourth quarter EBITDA results were driven by improved performance in the foodservice egg products portfolio, reflecting our continued focus on moving our customers to more convenient, value-added products. Fourth quarter volumes declined by 10% across all of our businesses, due, in large part, to economic conditions and the 53^rd week in 2008, which represented about half of the quarterly volume decline. Our focus on our higher-margin products and tight cost controls allowed us to offset the difficult volume environment.”

Dwyer concluded, “Our free cash flow remains strong. We made a $37.3 million voluntary prepayment on our term debt in late December 2009 and continued to invest in our businesses, especially in our new Chaska, Minnesota potato processing facility, which is currently ramping up production.”

Unaudited segment data follows (in thousands):


	Egg Products		Potato Products		Crystal Farms		Corporate			Total
Quarter ended January 2, 2010:
External net sales	$	253,584	$	33,413	$	103,294	$	—		$	390,291
Net earnings		16,958		3,529		2,179		(3,106	)		19,560
EBITDA*		44,352		5,321		6,880		(2,450	)		54,103

Quarter ended January 3, 2009:
External net sales	$	326,197	$	35,200	$	122,906	$	—		$	484,303
Net earnings		10,250		1,941		4,425		(3,288	)		13,328
EBITDA*		42,299		5,959		9,228		(3,296	)		54,190

Year ended January 2, 2010:
External net sales	$	1,046,791	$	119,219	$	376,769	$	—		$	1,542,779
Net earnings		77,940		2,478		20,760		(31,714	)		69,464
EBITDA*		173,316		12,078		39,137		(10,130	)		214,401

Year ended January 3, 2009:
External net sales	$	1,265,641	$	125,059	$	413,673	$	—		$	1,804,373
Net earnings		57,858		7,894		10,115		(28,989	)		46,878
EBITDA*		170,184		20,575		21,822		(12,565	)		200,016

*	As defined in Michael Foods’ credit facility.

EBITDA is a widely accepted financial indicator used to analyze and compare companies on the basis of operating performance. It should not be considered in isolation or as a substitute for measures of performance prepared in accordance with generally accepted accounting principles and is not indicative of operating profit or cash flow from operations as determined under generally accepted accounting principles.

The following table reconciles net earnings to EBITDA for the quarter ended January 2, 2010 (unaudited, in thousands):


	Egg Products		Potato Products			Crystal Farms		Corporate			Total
Net earnings (loss)	$	16,958	$	3,529		$	2,179	$	(3,106	)	$	19,560
Interest expense, excluding amortization of financing costs		286		(17	)		—		9,832			10,101
Amortization of financing costs		—		—			—		1,934			1,934
Income tax expense (benefit)		14,073		(1,946	)		3,417		(4,368	)		11,176
Depreciation and amortization		12,008		3,529			1,061		1			16,599
Equity sponsor management fee		—		—			—		597			597
Industrial revenue bonds related expenses		246		—			—		—			246
Other		2,308		226			223		(7,340	)		(4,583	)

		45,879		5,321			6,880		(2,450	)		55,630
Minus:
Unrealized gains on swap contracts		1,527		—			—		—			1,527

EBITDA (as defined in the credit facility)	$	44,352	$	5,321		$	6,880	$	(2,450	)	$	54,103

The following table reconciles net earnings to EBITDA for the quarter ended January 3, 2009 (unaudited, in thousands):

	Egg Products		Potato Products			Crystal Farms		Corporate			Total
Net earnings (loss)	$	10,250	$	1,941		$	4,425		($3,288	)	$	13,328
Interest expense, excluding amortization of financing costs		293		—			—		8,462			8,755
Amortization of financing costs		—		—			—		960			960
Income tax expense (benefit)		7,539		1,837			3,320		(7,256	)		5,440
Depreciation and amortization		17,372		1,829			1,160		—			20,361
Equity sponsor management fee		—		—			—		610			610
Industrial revenue bonds related expenses		243		—			—		—			243
Other		2,588		352			323		(2,784	)		479

		38,285		5,959			9,228		(3,296	)		50,176
Plus:
Unrealized losses on swap contracts		4,014		—			—		—			4,014

EBITDA (as defined in the credit facility)	$	42,299	$	5,959		$	9,228		($3,296	)	$	54,190

The following table reconciles net earnings to EBITDA for the year ended January 2, 2010 (unaudited, in thousands):


	Egg Products		Potato Products			Crystal Farms		Corporate			Total
Net earnings (loss)	$	77,940	$	2,478		$	20,760		($31,714	)	$	69,464
Interest expense, excluding amortization of financing costs		1,276		(342	)		—		36,003			36,937
Amortization of financing costs		—		—			—		6,145			6,145
Income tax expense (benefit)		45,295		(2,487	)		12,997		(17,561	)		38,244
Depreciation and amortization		47,587		11,366			4,315		4			63,272
Equity sponsor management fee		—		—			—		2,144			2,144
Industrial revenue bonds related expenses		978		—			—		—			978
Other		8,660		1,063			1,065		(5,151	)		5,637

		181,736		12,078			39,137		(10,130	)		222,821
Minus:
Unrealized gains on swap contracts		8,420		—			—		—			8,420

EBITDA (as defined in the credit facility)	$	173,316	$	12,078		$	39,137		($10,130	)	$	214,401

The following table reconciles net earnings to EBITDA for the year ended January 3, 2009 (unaudited, in thousands):

	Egg Products		Potato Products			Crystal Farms		Corporate			Total
Net earnings (loss)	$	57,858	$	7,894		$	10,115	$	(28,989	)	$	46,878
Interest expense, excluding amortization of financing costs		1,460		—			—		35,817			37,277
Amortization of financing costs		—		—			—		3,824			3,824
Income tax expense (benefit)		27,836		4,823			6,180		(17,710	)		21,129
Depreciation and amortization		65,907		6,856			4,555		3			77,321
Equity sponsor management fee		—		—			—		2,000			2,000
Industrial revenue bonds related expenses		976		—			—		—			976
Other		8,298		1,002			972		(7,510	)		2,762

		162,335		20,575			21,822		(12,565	)		192,167
Plus:
Unrealized losses on swap contracts		7,849		—			—		—			7,849

EBITDA (as defined in the credit facility)	$	170,184	$	20,575		$	21,822	$	(12,565	)	$	200,016

Michael Foods, Inc., based in Minnetonka, MN, is a producer and distributor of food products to the foodservice, retail and food-ingredient markets. Its principal products are specialty egg products, refrigerated potato products, cheese and other dairy products.

Consolidated statements of earnings are as follows:

Michael Foods, Inc.

Consolidated Statements of Earnings

For the periods ended January 2, 2010 and January 3, 2009

(in thousands)


	Quarter				Twelve months
	2009		2008		2009		2008
Net sales	$	390,291	$	484,303	$	1,542,779	$	1,804,373
Cost of sales		314,894		412,529		1,241,613		1,528,420

Gross profit		75,397		71,774		301,166		275,953
Selling, general & administrative		32,298		43,118		145,883		165,938

Operating profit		43,099		28,656		155,283		110,015
Interest expense, net		12,363		9,888		44,338		42,008
Loss on early extinguishment of debt		—		—		3,237		—

Earnings before income taxes		30,736		18,768		107,708		68,007
Income tax expense		11,176		5,440		38,244		21,129

Net earnings	$	19,560	$	13,328	$	69,464	$	46,878


	January 2, 2010		January 3, 2009
Selected Balance Sheet Information:
Cash and equivalents	$	87,061	$	78,054

Accrued interest	$	3,062	$	4,537

Total debt, including current maturities	$	553,037	$	597,384

Certain items in this release may be forward-looking statements. Such forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, changes in domestic and international economic conditions. Also, the Company faces normal, and at times notable, variances in the supply of, and demand for, eggs, grain feed inputs, potatoes and cheese, which can result in pricing and profit margin volatility for certain egg products, potato products and cheese. As a result, the Company’s actual financial results could differ materially from the results estimated by, forecasted by, or implied by the Company in such forward-looking statements.

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3-25-10

MICHAEL FOODS INC/NEW 8-K