Dean Foods Co., Dallas, Texas, announced plans to increase its ownership percentage and take a majority stake in Good Karma Foods, Boulder, Colo.
"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," says 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 plant-based alternatives are free of all major allergens and deliver strong nutritional benefits, which allows Dean Foods to reach consumers looking for alternatives to conventional dairy.
"We are thrilled about our continued partnership with the Dean Foods team," says Doug Radi, chief executive officer 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."
"As majority owners, we look forward to working with Doug and his team to continue their strong momentum and support their growth agenda," Scozzafava adds.
Good Karma will continue to operate as an independent company led by its existing leadership team.