Trek One Capital is expanding its holdings in plant-based CPG with a pair of acquisitions: flax milk brand Good Karma Foods and protein bar maker No Cow.
The transaction, announced on May 18, brings both brands under Houston-based Trek One Capital’s growing umbrella, which also includes premium chocolate brand Alter Eco Foods.
Best known for its non-dairy flax-based milk products, Good Karma has endured a winding road in the years since it was acquired by Dean Foods in 2018. After the dairy producer went bankrupt in 2019, the company reacquired majority control the following year while raising capital from firms including Valor Siren Ventures and 2x Consumer Products Growth Partners.
No Cow, founded in 2015, offers plant-based, low sugar, dairy-free nutrition bars with 20 grams of protein each.
“No Cow and Good Karma Foods represent terrific strategic additions to our portfolio of better-for-you differentiated food and beverage brands,” said Brian Fontana, Trek One Capital Operating Partner, in a press release. “Consumers have been increasingly focused on healthy lifestyles and choosing better-for-you clean label products. The team at No Cow and Good Karma have a proven track record of product innovation driving customer loyalty and we look forward to new growth opportunities with these companies.”