BOULDER, COLO. — Mike Murray has been named chief executive officer of Good Karma Foods, a maker of dairy alternatives. He joins the company amid a fresh round of funding.
Murray brings more than 25 years of consumer products experience to the role, most recently leading Teton Waters Ranch, a producer of regenerative beef. Previously he held senior roles at companies including free2b Foods, So Delicious Dairy Free, WhiteWave Foods Co. and Larabar. Under his leadership, Good Karma Foods will pursue strategic distribution growth in new and existing channels, increased targeted household penetration and brand awareness, and new product lines across dayparts, according to the company.
“I am looking forward to leveraging my experience and passion for galvanizing food system change to help the team bring Good Karma’s portfolio of delicious and sustainable plant-based solutions to more households,” Murray said. “Our team has a compelling opportunity to build upon the strong equity of Good Karma to deliver a variety of solutions that help people do good every single day with their consumption choices.”
Good Karma Foods is securing funding from existing investors and partners Valor Siren Ventures and Loft Growth Partners. The capital will be used to expand distribution, drive velocities and support marketing initiatives. Specific terms of the investment round were not disclosed.
“Even in light of inflationary pressures, families continue to flock to plant-based categories and segments, and Good Karma’s unique value proposition — combining the best of plants to provide unparalleled nourishment like no other — continues to show exciting promise,” said Brian King, chairman of the board, Good Karma Foods. “As our investors renew their partnership with Good Karma, and Mike joins the team, we are all looking forward to the brand realizing its leadership position in a variety of growing plant-based categories.”
Dean Foods Co. owned a majority stake in Good Karma Foods for two years prior to declaring bankruptcy and selling off its assets in 2020. At that time, Good Karma Foods reacquired the majority stake owned by Dean Foods and received its initial investment from Valor Siren Ventures. In the period since, Good Karma has refocused on core plant-based beverages and unveiled a new brand and packaging design across its portfolio. Recent launches include Barista Blends, a line of plant-based creamers formulated with oats, flax and peas, and Kids Oatmilk+, a children’s nutrition beverage. Good Karma continues to operate as an independent company based in Boulder, Colo.