Dean Foods has increased its pole in Good Karma Foodstuff C the US producer of flaxseed-based milk products and yogurt alternatives C nothing but a year after originally having a minority stake in the business.
The development of ownership makes the US milk products company the majority shareholder in Good Karma amid carrying on with uptake for the dairy alternatives category.
Dean Foods CEO Ron Scozzafava said: “Good Karma is really a fast-growing brand that gets us into the growing plant-based food and refreshment category, making it an excellent accessory for our portfolio. Our purchase of Good Karma is just one sort of how we are executing in opposition to one of the major pillars of our tactical plan, to build and buy sturdy brands.
“As majority masters, we look forward to working with Doug along with his team to continue their robust momentum and support their growth agenda.”
Good Karma Ingredients CEO Doug Radi continued: “We are pleased about our continued cooperation with the Dean Foods team. We believe this relationship validates that Good Seo is one of the leading and fastest-growing brand names to watch in the plant-based category, and we’re excited about how this relationship will advance our assignment of inspiring goodness by looking into making our plant-based, non-dairy beverages and yogurts a lot more accessible across the U.Utes.”
When FoodBev reported on the acquisition of the first stake in May 2017, Dean Foods said that the partnership would “allow Fantastic Karma to more quickly increase distribution across the US, and increase investments in brand building and product innovation”.
It was seen by outsiders as a vote of confidence while in the promising dairy alternative low fat yogurt category C and in particular for flax seed, which has managed to forge a market for itself alongside more well known offerings like almond yogurt as well as coconut yogurt.
Non-dairy foods have slowly grown in popularity, with more people today claiming to be lactose intolerance than ever C regardless of often having no clinical medical diagnosis C and many consumers dropping dairy food for lifestyle reasons.
That’s notwithstanding warnings from a UK charitable organisation that dairy-free diets could be damaging to consumers’ bone health during later life.