1 EXHIBIT 23.4 CONSENT OF PIPER JAFFRAY INC. We hereby consent to the use of our name in the Proxy Statement-Prospectus of North Star Universal, Inc. and Michael Foods, Inc. forming part of the Registration Statement on Form S-4 of North Star Universal, Inc. and to the inclusion of our opinion as Appendix 2 to such Proxy Statement-Prospectus. In giving the foregoing consent, we do not admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended, or the rules or regulations of the Securities and Exchange Commission thereunder. PIPER JAFFRAY INC. PIPER JAFFRAY INC. Minneapolis, Minnesota November 7, 1996