Food companies No Cow and Good Karma Foods have transitioned to new private-equity ownership.
Hyde Park Capital, serving as the investment bank for this acquisition, announced that Trek One Capital from Houston, Texas, has purchased the two brands. Specific financial details of the deal remain undisclosed.
Located in Denver, Colorado, No Cow specializes in plant-based, low-sugar protein bars, while Good Karma Foods produces non-dairy flaxmilk. Their products are available throughout retailers in the United States and also through direct-to-consumer channels, according to Hyde Park Capital.
Craig Lawson, managing director at Hyde Park Capital, noted, “No Cow and Good Karma Foods are differentiated brands serving attractive segments of the better-for-you food and beverage market. Trek One Capital is an ideal partner from a strategic and operational perspective.”
No Cow’s product line includes nine flavors, each offering 20 grams of plant protein, a mere one gram of sugar, and 15 grams of fiber. Additionally, they are gluten-free and contain 200 calories per bar.
Good Karma’s flax-based non-dairy milk is noteworthy for its five grams of protein and zero sugar content, enriched with vitamins A, B, and D. The product is also gluten-free and available in both refrigerated and shelf-stable formats.
Founded in 2015, No Cow complements Good Karma, which established itself in Boulder, Colorado, “20 years ago to create a non-dairy milk substitute and became a plant-based pioneer in allergen-friendly flax-based milk products,” as per Hyde Park Capital.
The protein sector is increasingly becoming a focal point for acquisitions, with major food industry players like Nestlé, Lactalis, and Danone actively participating.
In June, Lactalis, a leading global dairy entity, acquired Protein Works, a UK firm specializing in protein-rich offerings.
That same month, Nestlé finalized its acquisition of the remaining stake in Yfood, a company focused on “ready-to-drink meals” in which it initially invested three years prior.
Additionally, Danone, a prominent player in the dairy market, announced its intention to purchase the Australia-based beverage firm Made Group, also in June.