Dean Foods becomes majority shareholder of Good Karma
Dean Foods Company has announced it has increased its ownership percentage and taken a majority stake in Good Karma Foods, the leading brand of flaxseed-based milk and yoghurt alternatives.
"Good Karma is a fast-growing brand that gets us back into the growing plant-based food and beverage category, making it an excellent addition to our portfolio," said Ralph Scozzafava, CEO of Dean Foods. "Our investment in Good Karma is just one example of how we are executing against one of the major pillars of our strategic plan, to build and buy strong brands."
Good Karma's plant-based alternatives are free of all major allergens, deliver strong nutritional benefits and have a surprisingly neutral flavour and creamy texture, which allows Dean Foods to reach consumers looking for great-tasting alternatives to conventional dairy.
"We are thrilled about our continued partnership with the Dean Foods team," said Doug Radi, Good Karma Foods CEO. "We believe this relationship validates that Good Karma is one of the leading and fastest-growing brands to watch in the plant-based category, and we are excited about how this partnership will advance our mission of inspiring goodness by making our plant-based, non-dairy beverages and yoghurts more accessible across the U.S."
Mr Scozzafava continued, "As majority owners, we look forward to working with Doug and his team to continue their strong momentum and support their growth agenda."
Good Karma will continue to operate as a Boulder-based independent company led by its existing leadership team. 2x Consumer Products Growth Partners continues to be a material investor and supporter of Good Karma.