Dean takes majority stake in Boulder-based Karma Foods

BOULDER — Dallas-based Dean Foods Co. (NYSE: DF) said on Tuesday that it has increased its ownership percentage and taken a majority stake in Boulder-based Good Karma Foods Inc.

Good Karma Foods, which produces flaxseed-based milk and yogurt products, will continue to operate as a Boulder-based independent company led by its existing leadership team.

“We are thrilled about our continued partnership with the Dean Foods team,” Doug Radi, Good Karma Foods’ chief executive, said in a prepared statement. “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, nondairy beverages and yogurts more accessible across the U.S.” The products are free of allergens, the company said.

Ralph Scozzafava, CEO of Dean Foods, said in the statement that “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. … As majority owners, we look forward to working with Doug and his team to continue their strong momentum and support their growth agenda.”