Exhibit 99.1

Contact:

Mark Westphal

Senior Vice President and

Chief Financial Officer

(952) 258-4000

MICHAEL FOODS REPORTS FOURTH QUARTER RESULTS

MINNETONKA, MN, March 22—Michael Foods Group, Inc. today reported financial results for the fourth quarter of 2012.

Net sales for the quarter ended December 29, 2012 were $503.6 million, compared to $470 million in 2011, an increase of 7.2%. Net earnings for the quarter ended December 29, 2012 were $13.7 million, compared to $19.3 million in 2011.

Net sales for the year ended December 29, 2012 were $1,856.1 million, compared to $1,766.6 million in 2011, an increase of 5.1%. Net earnings for the year ended December 29, 2012 were $30.1 million, compared to $14.3 million in 2011.

Earnings before interest, taxes, depreciation, amortization (“EBITDA”) and other adjustments (“adjusted EBITDA,” as defined in the Company’s credit facility) for the quarter ended December 29, 2012 were $67.3 million, compared to $70.9 million in 2011, a decrease of 5.1%. Adjusted EBITDA for the year ended December 29, 2012 were $242.8 million, compared to $230 million for the same period in 2011, an increase of 5.6%.

“Our team did a good job of delivering record adjusted EBITDA in 2012. We drove volume and revenue in a volatile environment, gaining share in most of our businesses with continued emphasis on value added products. Our continuous improvement efforts paid dividends by improving service and quality levels while providing savings to offset increasing costs. While pricing lagged cost increases in 4th quarter, we are confident in our pass-through pricing process and value-added product portfolio. MFI is well positioned to continue to grow in the coming year.” said Jim Dwyer, President and CEO.

Michael Foods Group, Inc. uses Adjusted EBITDA as a measurement of financial results, as an indication of the relative strength of its operating performance, and to determine incentive compensation levels. Management believes that EBITDA and Adjusted EBITDA provide potential investors with useful information with which to analyze and compare with other companies in our industry our operating performance and our ability to service debt.

Certain items contained in this release may be “forward-looking statements.” Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future sales or performance, capital expenditures, financing needs, ability to fund operations, intentions relating to acquisitions, our competitive strengths and weaknesses, our business strategy and the trends we anticipate in the industries and economies in which we operate and other information that is not historical information. When used herein, the words “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes” and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance.

All forward-looking statements are based upon our current expectations and various assumptions. Our expectations, beliefs and projections are expressed in good faith, and we believe there is a reasonable basis for them, but there can be no assurance that our expectations, beliefs and projections will be realized. There are a number of risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements contained in this release, including the factors described under “Risk Factors” in our 2011 Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 30, 2012. Important factors that could cause our actual results to differ materially from the forward-looking statements we make in this release include changes in domestic and international economic conditions.

Unaudited segment data follows (in thousands):

Beginning January 1, 2012, we changed our internal reporting of segment information. We now report all sales of shell egg and egg products and refrigerated potato products in their respective segments and the balance of our retail distributed products, cheese and other dairy-case products, as our third segment. This change increased the amount of external net sales, net earnings and adjusted EBITDA reported for prior periods for both the egg products and refrigerated potato products segments as we reclassified the egg and refrigerated potato products previously reported under the cheese & other dairy-case products segment. The December 31, 2011 quarter and annual periods have been restated to reflect the new internal reporting. This change has no impact on the assets of the segments as none of the underlying business unit operations were affected by this reporting change.

Adjusted EBITDA is a 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 (loss) to adjusted EBITDA for the quarter ended December 29, 2012 (unaudited, in thousands):

The following table reconciles net earnings (loss) to adjusted EBITDA for the quarter ended December 31, 2011 (unaudited, in thousands):

The following table reconciles net earnings (loss) to adjusted EBITDA for the year ended December 29, 2012 (unaudited, in thousands):

The following table reconciles net earnings (loss) to adjusted EBITDA for the year ended December 31, 2011 (unaudited, in thousands):

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

Consolidated statements of earnings are as follows:

Michael Foods Group, Inc.

Consolidated Statements of Earnings

(In thousands)

#    #     #