Canadian vegan cheese brand Daiya has been acquired by a healthcare company for a massive $325.5 million.
Otsuka Pharmaceutical Co. Ltd - a self-described 'global holistic healthcare company dedicated to bettering the health of people worldwide' - just announced the purchase, confirming it will acquire 100 per cent of the brand, which was founded in 2008.
Otsuka sells a number of products internationally, including vitamin brand Nature Made.
Tatsuo Higuchi, President and Representative Director of Otsuka, said: "We are excited to welcome Daiya to Otsuka group.
"Driven by a highly talented management team, Daiya has developed a portfolio of high-quality, unique plant-based nutrition products and built a strong brand with loyal customers.
"We believe this will be an important pillar for our nutraceutical business. With our shared values, vision and mission, together we will commit to the better wellness of people worldwide."
Daiya CEO, Terry Tierney, added: "Joining the Otsuka family is an honor for all of us at Daiya.
"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."
Disclaimer: The opinions expressed in this article are prepared in the author's capacity and do not necessarily reflect the views and opinions of Plant Based News itself.Reuse this content
Maria is the Editor of Plant Based News. A former magazine editor, newspaper reporter, and features writer, her work has been published by The Guardian, The Huffington Post, and various regional newspapers. She was previously the editor of Vegan Life magazine and Vegan Trade Journal. She has interviewed a huge range of people, from Prime Ministers to authors, activists, pop stars and actors, and enjoys the varied range of topics writing for PBN allows her to tackle. You can follow her on Twitter @MariaChiorando and Instagram @mariachiorando.
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