Vegan flax milk brand buys back property from Dairy Giant Dean Foods
Vegan model Good karma foods has regained a controlling stake in its flaxseed milk and yogurt enterprise from lately bankrupt dairy big Dean Meals. In November final 12 months, Dallas-based Dean Meals, the biggest dairy producer in the US, filed for chapter as shopper preferences and personal label competitors shifted. This offered Good Karma with a chance to regain possession of its model. A “important” however undisclosed funding by early-stage meals fund Valor Siren Ventures and current investor 2x Client Merchandise Progress Companions enabled Good Karma to amass shares within the dairy firm, which after a number of investments within the vegan firm turned one in 2017 Majority stake was.
“We’re on a mission to encourage goodness and provide plant-based choices which can be nutritious, surprisingly scrumptious, and creamy, and allergen-free,” mentioned Doug Radi, CEO of Good Karma. “We could not have discovered a greater accomplice than Valor Siren Ventures to convey extra natural goodness to extra locations [we] are honored to be a part of the mission-driven groups and types of their portfolio. ”
Good Karma plans to proceed working as an impartial firm based mostly in Boulder, CO, led by its current government staff. With the brand new funding companions, Good Karma plans to develop gross sales, innovate in a wide range of different plant-based classes, and develop its branding and shopper consciousness applications.