So when his company Elmhurst Dairy experienced continued losses, CEO Henry Schwartz knew he had to make a drastic change. Elmhurst Dairy was founded by Schwartz’s father and uncle in 1925 in New York, and became one of the largest dairies on the east coast, supplying a metropolitan area of seven million people. They went down by 7 percent ($17.8 billion) in 2015 and are projected to drop another 11 percent through 2020, according to research firm Mintel. So, in November last year, 83-year-old Schwartz made a radical decision: to stop using cows to make milk products, and replace them with nuts. “They went from bottling small batches of cream on a hand filler to selling dairy products to millions of New Yorkers and eventually developing the first drinkable and premium yogurt products available in the United States.

Source: Forbes October 17, 2017 18:11 UTC