Dairy company Dean Foods recently released their third-quarter financial report showing a massive 91 percent drop in profits.
According to Vegnews: “While Dean Foods—the parent company of dairy brand Dairy Pure—reported an income of $14.53 million last year, the company made only $1.38 million this year, with a net sales slip to $1.94 billion compared to $1.96 billion last year.”
“Our initiatives to build strong brands and diversify our portfolio will build brand equity on Dairy Pure through new product innovation and enhanced consumer marketing,” Dean Foods CEO Ralph Scozzafava said.
Dean Foods have begun diversifying their business operations into the plant-based market. It began with the dairy brand investing in plant-based milk company Good Karma earlier this year, with the business also planning on investing more into plant-based milk in future.