Dean Foods becomes majority shareholder of Good Karma
Investment marks Dean Foods' commitment to plant-based foods and beverages
Jul 02, 2018, 16:15 ET
DALLAS and BOULDER, Colo., July 2, 2018 /PRNewswire/ -- Dean Foods Company (NYSE: DF) today announced it has increased its ownership percentage and 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."
Good Karma's plant-based alternatives are free of all major allergens, deliver strong nutritional benefits and have a surprisingly neutral flavor 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 yogurts more accessible across the U.S."
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.
ABOUT DEAN FOODS
Dean Foods is a leading food and beverage company and the largest processor and direct-to-store distributor of fresh fluid milk and other dairy and dairy case products in the United States. Headquartered in Dallas, Texas, the Dean Foods portfolio includes DairyPure®, the country's first and largest fresh, white milk national brand, and TruMoo®, the leading national flavored milk brand, along with well-known regional dairy brands such as Alta Dena®, Berkeley Farms®, Country Fresh®, Dean's®, Friendly's®, Garelick Farms®, LAND O LAKES®* milk and cultured products*, Lehigh Valley Dairy Farms®, Mayfield®, McArthur®, Meadow Gold®, Oak Farms®, PET®**, T.G. Lee®, Tuscan® and more. Dean Foods also has a joint venture with Organic Valley®, distributing fresh organic products to local retailers. In all, Dean Foods has more than 50 national, regional and local dairy brands as well as private labels. Dean Foods also makes and distributes ice cream, cultured products, juices, teas, and bottled water. Almost 16,000 employees across the country work every day to make Dean Foods the most admired and trusted provider of wholesome, great-tasting dairy products at every occasion. For more information about Dean Foods and its brands, visit www.deanfoods.com.
*The LAND O LAKES brand is owned by Land O'Lakes, Inc. and is used by license.
**PET is a trademark of Eagle Family Foods Group LLC, under license.
ABOUT GOOD KARMA FOODS
Good Karma isn't just our name, it's the inspiration for everything we do. We are a company and a group of people with full hearts who inspire goodness with the tiny but mighty choices we make every day, from selecting our ingredients, to how we make our products and give back to our community. Based in Boulder, Colo., we are dedicated to making plant-based, dairy alternative food and beverage products that deliver a mighty bundle of nutrition along with surprisingly good taste and texture. In 2012, Good Karma was the first company to create a flax-based milk alternative based on the need for a dairy alternative that was free of all major allergens, and also delivered on nutrition, taste and texture. Since then, we have launched a line of Flaxmilk + Protein, Probiotic Drinkable Yogurts, Dairy Free Yogurt Cups, Seasonal Nogs and a line of shelf-stable Flaxmilk Omega-3 + Protein. By providing allergen-friendly products that put a smile on your face, we hope you'll be inspired to join our Good Karma movement through the tiny but mighty actions you take each day. Learn more and find additional inspiration by connecting with us online at www.goodkarmafoods.com, and on Facebook, Instagram and Twitter.
Contact Dean Foods: Corporate Communications, Reace Smith, +1-214-721-7766, [email protected]; or Investor Relations, Sherri Baker, +1-214-303-3438
Contact Good Karma Foods: Elexis Schroder, +1-720-352-3961, [email protected]
SOURCE Dean Foods Company