DALLAS and BOULDER, Colo., May 5, 2017 /PRNewswire/
-- Dean Foods Company (NYSE: DF) today announced a minority
investment and a distribution deal with Good Karma Foods, the
leading producer of flaxseed-based milk and yogurt alternatives.
The partnership with Dean Foods, a leading food and beverage
company, will allow Good Karma to more quickly expand distribution
across the U.S., as well as increase investments in brand building
and product innovation. Dean Foods will take a position in the
brand and joins lead investor 2x Consumer Products Growth Partners
in support of Good Karma.
"We love Good Karma as a fit for Dean Foods as we focus on
diversification both within and beyond dairy," said Ralph Scozzafava, CEO 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."
Scozzafava continued, "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," said Doug Radi,
Good Karma Foods CEO. "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 through its experienced sales team.
Terms of the deal were not disclosed. Piper
Jaffray served as an advisor to 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 17,000 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 good 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 Flaxmilks with added protein,
Probiotic Drinkable Yogurts and Dairy Free Yogurts Cups. By
providing allergen-friendly products that put a smile on your face,
we hope you'll be inspired to pour some goodness forward. Join our
Good Karma movement and find additional inspiration by connecting
with us online at goodkarmafoods.com, and on Facebook, Instagram
and Twitter.
Contact Dean Foods: Corporate
Communications, Jamaison Schuler,
+1-214-721-7766, media@deanfoods.com; or Investor Relations,
Sherri Baker, +1-214-303-3438
Contact Good Karma Foods: Elexis
Schroder, +1-720-352-3961, press@goodkarmafoods.com
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SOURCE Dean Foods Company