DALLAS — Dean Foods Co. has increased its ownership percentage and taken a majority stake in Good Karma Foods, manufacturer of flaxseed-based milk and yogurt alternatives. Dean first took a minority stake in Good Karma in May 2017, which also included a distribution arrangement.
“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, chief executive officer 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 portfolio includes flaxmilk, dairy-free yogurts and dairy-free probiotic drinkable yogurts. Its products are all free of dairy, lactose, nuts, soy and gluten, and the company’s line of milk alternatives is Non-GMO Project verified.
“We are thrilled about our continued partnership with the Dean Foods team,” said Doug Radi, c.e.o. of Good Karma Foods. “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 yogurts more accessible across the U.S.”
Good Karma will continue to operate as an independent company based in Boulder, Colo., and will be led by its existing leadership team.
The addition of Good Karma to Dean Foods’ lineup emphasizes the company’s plan to return to the plant-based beverage business. In 2013, the company spun off WhiteWave Foods Co., which was later acquired by Danone S.A. Prior to the spin-off, the combined Dean and WhiteWave business manufactured and marketed such dairy-based products as International Delight and Horizon as well as such plant-based brands as Silk.