Dean Foods purchases plant-based dairy-alternative company
BOULDER, CO - Dean Foods Company is now the majority owner of a plant-based company that markets dairy-free products.
Dean Foods made the announced earlier this month that it has taken a majority stake in Good Karma Foods, the leading brand of flaxseed-based milk and yogurt 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."
Dean Foods previously owned WhiteWave, an organic, plant-based company until 2013. The companyiw now owned by Danone that is most known for its Silk products of almond and soy milk.
Good Karma advertises its plant-based products as being free of all major allergens and allows Dean Foods to reach consumers looking for 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 yogurts more accessible across the U.S."
Dean Foods made headlines earlier this year when it announced that it would be terminating more than 100 milk contracts with dairy farmers in over eight states. Company officials blamed the weakening milk market for the move.
Dean Foods had served as a private bottler for Walmart until the retail giant made the decision to open its own bottling plant in Indiana.