Japanese pharmaceutical company Otsuka Pharmaceutical has announced the acquisition of plant-based food company Daiya Foods for C$405 million ($325 million).
Daiya offers “high-quality, unique plant-based nutrition products” that are described as free from seven mayor food allergens, including soy, gluten and dairy.
The acquisition, according to an Otsuka spokesman, expands Otsuka’s product portfolio, while helping Daiya to increase its presence throughout North America and beyond.
Terry Tierney, CEO of Daiya Foods, commented: “With aligned values and vision, Daiya and Otsuka have a tremendous opportunity to bring the incredible benefits of a plant-forward lifestyle to people around the world. Our partnership with Otsuka enables us to leverage their expertise and vast resources to continue growing our line of great-tasting, allergy-friendly food products that have delighted consumers for over 10 years”.
Source: Food Business News