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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."
Maria is a former magazine editor and newspaper reporter. She has specialized in writing content for the plant-based sector for several years, as well as reporting on agriculture, politics and regional news. You can follow her on Twitter @MariaChiorando and Instagram @mariachiorando.
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