Dean Foods, Good Karma Foods strike investment, distribution deal
Good Karma will continue to operate as a Boulder-based independent company led by its existing leadership team.
Dean Foods Co., Dallas, Texas, announced a minority investment and distribution deal with Good Karma Foods, Boulder, Colo. The partnership will allow Good Karma to more quickly expand distribution across the United States, as well as increase investments in brand building and product innovation.
"We love Good Karma as a fit for Dean Foods, as we focus on diversification both within and beyond dairy," says Ralph Scozzafava, chief executive officer of Dean Foods. "This opportunity with Good Karma is a way for us to build a platform for a larger plant-based portfolio. The management team has deep category expertise, the brand is a disruptor in the plant-based, non-dairy space and we believe we can support its growth. One of the pillars of our strategic plan is to build and buy strong brands, and Good Karma embodies the exact type of opportunity we're interested in, as we look to add leading and high potential brands in adjacent growing categories such as plant-based beverages."
"Good Karma isn't just our name; it's the inspiration for everything we do," adds Doug Radi, chief executive officer of Good Karma Foods. "This partnership validates that Good Karma has become one of the leading and fastest-growing brands to watch in the plant-based category. We are excited about how this partnership will give us the opportunity to advance our mission of inspiring goodness by making our flax-based, non-dairy beverages and yogurts more accessible across the U.S."
Good Karma will continue to operate as a Boulder-based independent company led by its existing leadership team. As part of the investment agreement, Dean Foods will lend support to Good Karma's growth plans in the conventional retail channel.