Otsuka Acquires Daiya
Acquisition furthers shared goals of establishing a global plant-based food platform delivering better health around the world
Otsuka Pharmaceutical Co., Ltd. (Otsuka), a wholly owned subsidiary of Otsuka Holdings Co., Ltd. and a global holistic healthcare company dedicated to bettering the health of people worldwide, announced that it has entered into a definitive agreement to acquire 100% of Daiya Foods Inc. (Daiya), a privately held Vancouver, Canada-based company specializing in the manufacture of plant-based foods. The acquisition, reported at 405 million Canadian dollars, is expected to help increase Daiya’s presence throughout North America and beyond, while creating a global plant-based platform.
The acquisition will proceed by way of Plan of Arrangement under British Columbia law. The Arrangement has been approved by the Daiya board and will be subject to, among other things, the approval of Daiya shareholders, receipt of court approval and the satisfaction of certain other customary closing conditions.
Otsuka operates worldwide, including in the US and Canada, where it offers popular brands like Nature Made vitamins. The acquisition of Daiya 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 global markets.