BOULDER — Dean Foods Co., a Dallas-based dairy company, is considering increasing its shares in Boulder-based Good Karma Foods.
Dean purchased a minority stake in the plant-based milk alternative company in May 2017. Dean Foods has brands like T.G. Lee and Land O Lakes.
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Dean Foods CEO Ralph Scozzafava told Bloomberg his company was considering becoming a majority shareholder.
“It’s a really, really cool brand, and it’s growing — it grew pretty dramatically last year,” Scozzafava told Bloomberg. “Over the next few months, we’ll make that decision” about whether to increase the stake, he said.
When asked for more information, Good Karma CEO Doug Radi emailed a statement to BizWest:
“We remain excited about our continued partnership with Dean Foods,” Radi said. “The initial minority investment and distribution agreement last year has allowed us to successfully accelerate growth through investments in distribution, innovation and marketing. We believe Dean Food’s continued interest and partnership in Good Karma Foods validates we are one of the leading and fastest-growing brands to watch in the plant-based category.”