Otsuka buys Daiya Foods to expand plant-based food products

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In Canada, Otsuka Pharmaceutical Co., Ltd. acquired Daiya Foods Inc. a privately held Vancouver-based company specializing in the manufacture of plant-based foods. The 405 million Canadian dollar acquisition is expected to help increase Daiya’s presence throughout North America and beyond, while creating a global plant-based platform.

Otsuka operates worldwide, including in the U.S. and Canada, where it offers popular brands like Nature Made vitamins. The Daiya acquisition greatly expands Otsuka’s product portfolio, adding a new category of plant-based products in North America, and provides Daiya with a like-minded partner with expertise in consumer brands, R&D and manufacturing, and in global markets.

Daiya was among the pioneers in developing delicious, plant-based cheese alternatives. The company has demonstrated its brand extendibility, now offering a wide range of successful plant-based food products in more than 25,000 stores across North America, including Whole Foods, Kroger and Safeway, as well as in select international markets.