This invention relates to process for producing biphenyl esters, the process comprising: (a) contacting a feed comprising toluene, xylene or mixtures thereof with hydrogen in the presence of a hydroalkylation catalyst to produce a hydroalkylation reaction product comprising (methylcyclohexyl)toluene, wherein the hydroalkylation catalyst comprises: 1) binder present at 40 wt % or less (based upon weight of final catalyst composition), 2) a hydrogenation component present at 0.2 wt % or less (based upon weight of final catalyst composition), and 3) an acidic component comprising a molecular sieve having a twelve membered (or larger) ring pore opening, channel or pocket and a largest pore dimension of 6.0 angstroms or more present at 60 wt % or more, (based upon weight of final catalyst composition); (b) dehydrogenating the hydroalkylation reaction product using a dehydrogenation catalyst to produce a dehydrogenation reaction product comprising a mixture of methyl-substituted biphenyl compounds; (c) contacting at the dehydrogenation reaction product with an oxidizing gas to convert the methyl-substituted biphenyl compounds to biphenyl carboxylic acids; and (d) reacting the biphenyl carboxylic acids with one or more C1 to C14 alcohols to produce biphenyl esters.