Good Karma Meals declares new CEO and a contemporary infusion of capital to speed up the model’s management place in 2023
BOULDER, Colo. (PRWEB)
December 19, 2022
Good Karma Foods, a number one producer of nourishing plant-based milk and dairy alternate options, right this moment introduced that Mike Murray, a values-driven CPG meals and beverage business veteran recognized for main high-growth manufacturers, has joined the corporate as Chief Govt Officer (CEO). The addition of Murray to the Good Karma group coincides with a brand new spherical of funding that can speed up progress for the revolutionary plant-based model.
Murray joins the Good Karma group with greater than 25 years of CPG expertise, constantly main manufacturers that do actual good for individuals, animals and the planet. Most just lately, Murray served as CEO at Teton Waters Ranch, a grass-fed and completed, regeneratively-raised beef options firm. Underneath Murray’s management, Teton Waters Ranch grew to become the fastest-growing model within the naturally-positioned dinner sausages class. Previous to Teton Waters Ranch, Murray held government and management roles at different values-focused organizations together with free2b Meals, So Scrumptious Dairy Free, WhiteWave Meals Firm and LARABAR. Adept at rising purpose-driven organizations, Murray will help Good Karma as the corporate goals to appreciate its full potential by gaining strategic distribution in new and current channels, in addition to rising focused family penetration and consciousness. Moreover, the corporate can even pursue thrilling innovation to unravel rising fashionable shopper wants throughout dayparts.
“I’m wanting ahead to leveraging my expertise and keenness for galvanizing meals system change to assist the group convey Good Karma’s portfolio of scrumptious and sustainable plant-based options to extra households,” stated Murray. “Our group has a compelling alternative to construct upon the sturdy fairness of Good Karma to ship quite a lot of options that assist individuals do good each single day with their consumption decisions.”
Shoppers proceed to hunt out plant-based merchandise for quite a lot of causes, together with environmental and animal welfare issues, well being wants and life-style preferences, and the development exhibits little signal of slowing amidst financial challenges going through the meals business. In keeping with the latest retail sales data from the Plant Based mostly Meals Affiliation, The Good Meals Institute and SPINS, U.S. retail gross sales of plant-based meals grew greater than 6% in 2021, with the full plant-based market reaching $7.4 billion. Particular to plant-based dairy, the class noticed 4% YoY greenback gross sales progress as animal-based milk gross sales declined 2%.
Along with Murray’s rent, the model can even shut on a brand new fund elevate within the close to future. Present buyers and companions Valor Siren Ventures(VSV), a fund established to behave as an innovation engine and market maker in early-stage meals, meals know-how and retail know-how, and Loft Growth Partners, a progress investor for rising shopper merchandise companies, will lead the spherical. The elevate will allow the corporate to develop distribution, drive velocities and actively have interaction customers.
“Even in mild of inflationary pressures, households proceed to flock to plant-based classes and segments, and Good Karma’s distinctive worth proposition – combining the perfect of crops to supply unparalleled nourishment like no different – continues to point out thrilling promise,” stated Brian King, chairman of the board, Good Karma Meals. “As our buyers renew their partnership with Good Karma, and Mike joins the group, we’re all wanting ahead to the model realizing its management place in quite a lot of rising plant-based classes.”
Since VSV’s preliminary funding in Good Karma in mid-2020, the model has refocused on core plant-based drinks and beverage innovation, and efficiently launched ecommerce and a portfolio-wide strategic model and packaging redesign. Current product launches embrace Barista Blends, plant-based creamers formulated from oats and nutrient-packed flax and peas to recreate espresso store favorites from the consolation of house, and Kids Oatmilk+, an entire new form of plant-based milk blended with vitamins for rising youngsters.
Good Karma will proceed to function as a Boulder-based impartial firm. Particular phrases of the brand new spherical of funding weren’t disclosed.
Extra about Good Karma and its portfolio of uniquely nourishing plant-based dairy different options may be discovered at https://goodkarmafoods.com/.
ABOUT GOOD KARMA FOODS
Our plant based mostly merchandise mix the perfect of the perfect plant based mostly elements for superior style and diet. We imagine little acts of fine add as much as blissful hearts and heat smiles. That good meals fuels good individuals, creating higher communities and a brighter tomorrow. And, we imagine in meals that’s nutritious and scrumptious and lets crops shine. Be a part of our Good Karma motion by connecting with us on-line at goodkarmafoods.com, and on Instagram, Facebook and Pinterest.
ABOUT VALOR SIREN VENTURES
The Valor Siren Ventures (VSV) mission is to be the main innovation engine and market maker in early-stage meals, meals know-how, and retail know-how investing. Rooted in Valor’s historical past of meals and retail know-how, Valor and its Strategic Traders imagine there is a chance to develop a brand new mannequin for enterprise investing with VSV. Our group aspires to create worth by producing differentiated funding alternatives, making use of our mental capital, and accelerating the expansion of portfolio corporations by VSV operations help in scaling. Study extra at http://www.valorep.com/valor-siren-ventures-vsv.
ABOUT LOFT GROWTH PARTNERS
Loft Progress Companions is a number one progress investor for rising shopper merchandise companies. Our goal is to raise companion manufacturers to new heights. Our group brings greater than 400 years of collective operational expertise main rising and established manufacturers to assist purpose-driven entrepreneurs and groups to develop their corporations into the long-lasting manufacturers of tomorrow. Loft Progress Companions invests in manufacturers and classes the place the group’s expertise, information and relationships will assist the model companions develop. This consists of the meals, beverage, private care, nutritional vitamins and dietary supplements, house care and pet care classes. The agency targets rising manufacturers which can be usually $2-25 million in income with a robust sense of “proven-ness” with customers and retailers. The Loft Progress Companions group values manufacturers which can be reworking their classes, grounded in sturdy goal and values, and ship product experiences that customers love.
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