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.

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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.”