Daiya Foods To Be Acquired by Otsuka Pharmaceutical

July 27, 2017
Canadian maker of plant-based alternative foods goes to Japanese nutraceutical company.

Daiya Foods Inc., a privately held Vancouver maker of plant-based foods, primarily dairy substitutes, has agreed to be acquired by Otsuka Pharmaceutical Co. Ltd. of Japan. The acquisition, reported at 405 million Canadian dollars (US$324) should help increase Daiya’s reach, especially outside of North America.

Otsuka is a $10-billion company with operations worldwide, mostly in the realm of nutraceuticals and supplements. In the U.S. and Canada, it's the manufacturer of Nature Made vitamins. This appears to be the company's first foray into foods (unless you count Pocari Sweat Ion Water).

Daiya's current CEO Terry Tierney and other managers apparently will stay on, and the company will continue to be based in Vancouver.

Daiya Foods was founded in 2008 to make dairy-, gluten- and soy-free foods, including alternative pizzas, yogurts, "Cheezecakes," "Cream Cheeze Style Spreads" and cheese alternatives, including blocks, shreds and slices.

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