That's a classical theorem: I last stumbled upon it in this blog post, for example.
But I don't know how to prove it. Can anyone provide a complete proof, or a reference? Here are some references that do not contain proofs.
Aguilar-Gitler-Prieto, Algebraic Topology from a Homotopical Viewpoint, theorem 6.4.15: if $G$ is path-connected, then it is equivalent to the "weak" product $\prod_{i\geq 0}' K(\pi_i G,i)$. He defines a "weak "product in page 222.
Strom, Modern Classical Homotopy Theory, problem 20.66: same thing, but he doesn't ask for $G$ to be path-connected. He defines a "weak" product to be the "colimit of the finite products", if I understand correctly.
McCord, in Classifying spaces and infinite symmetric products, page 295, attributes the theorem to Moore and says "every topological abelian group has the homotopy type of a product of Eilenberg-Mac Lane spaces".
So I can't quite make up what's the actual theorem, i.e. what are the correct hypotheses. It might seem that we need path-connectedness for a monoid, but for a group we can get away with it? What's the deal with this "weak product" business?
The repeated reference is Dold-Thom's original paper, "Quasifaserungen...", but alas, it is in German, and my knowledge of the language of Goethe is limited, to say the least.