Dean Foods Company, the biggest dairy company in the United States seems to be diversifying its dairy offerings as it has recently acquired a majority stake in Good Karma Foods, producer of plant-based foods.
Incidentally, in May 2017, Dean Foods had already acquired a minority stake in Good Karma Foods. The cash injection helped in expanding distribution across the United States as well as for product innovation and brand promotion. With the acquisition of a majority stake in the food company, which is best known for its non-dairy milks and yogurts made from flax seeds, Dean Foods Company hopes to diversify its portfolio.
Ralph Scozzafava, CEO, Dean Foods has been quoted by reliable sources to say that Good Karma is a fast progressing brand that is expected to put Dean Foods back in to the growing market for plant-based beverages and foods. He added that the investment in Good Karma is just on instance presented by Dean Foods to demonstrate how the company is planning to execute against one of their major pillars of strategic plans, that is, to buy and build strong brands. Scozzafava said that as the majority owner of Good Karma Foods, the team of Dean Foods is looking forward to working with Doug Radi, CEO of Good Karma Foods and to continue the strong momentum that supports their agenda for growth.
A similar sentiment was echoed by Doug Radi who said that Good Karma is thrilled to continue the partnership with Dean Foods. Reliable sources reported Radi to be stating that the continuation of the relationship validates Good Karma’s claim of being one of the leaders in the plant-based category. He added that the partnership will help Good Karma advance its mission of spreading the goodness of non-dairy, plant-based beverages and yogurts and make them more accessible across the United States.
Good Karma Foods will continue to operate as an independent company and will retain its leadership team.