Dean Foods to retain majority stake in Boulder’s Good Karma

BOULDER — As Dairy Farmers of America Inc. prepares to buy several milk brands and processing plants from the bankrupt Dean Foods Co. (NYSE: DF), it isn’t going after Boulder-based plant-milk company Good Karma Inc.

The DFA has offered to buy 44 processing plants from Dean, including one in Englewood and another in Greeley, which is at risk of closing and laying off its staff of 82 workers. DFA’s bid also includes several brand names and an ownership stake in a joint venture with Organic Valley, the U.S.’ largest farmer-owned organic cooperative, according to bankruptcy court filings.

But Dean would keep its majority stake in Good Karma under the terms of the deal, along with 13 fluid and frozen milk facilities.

Good Karma CEO Doug Radi previously said the Dean bankruptcy has no impact on the company’s operations, and he reaffirmed that Wednesday afternoon.

“We’re an independent Delaware corporation, I report to an independent board, and Good Karma is a standalone company run by the team here in Boulder,” he said.

A previous version of this story describes Dean Foods as having an ownership stake in Organic Valley. It has since been updated to reflect Dean Foods’ ownership stake in a joint venture with Organic Valley.

on Facebook on LinkedIn