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Canadian plant-based food manufacturer and distributor Daiya is to be acquired by Japanese Otsuka Pharmaceutical Co. Ltd., a wholly owned subsidiary of Otsuka Holdings Co. Ltd., based in Japan. In a statement, the companies say 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.”

The deal is another strong indicator of the growing plant-based market, valued at 5 billion dollars in the U.S and around $500 million dollars in Canada. Otsuka Pharmaceutical, a global holistic healthcare company dedicated to bettering the health of people worldwide, already has operations in Canada and the U.S., manufacturing popular brands such as Nature Made vitamins. Otsuka Holdings had sales of 10.3 billion US dollars in 2016 and has almost 45,000 employees worldwide. Its focus is on pharmaceutical products to treat diseases and nutraceutical products to maintain health.

Founded in 2008 Daiya has experienced tremendous growth over the last 3 years, tripling its sales to over 90 million Canadian dollars in the last 12 months. As one of the founding members of The Plant Based Foods Association and a company passionate about providing delicious vegan food, they welcome the acquisition. Terry Tierney, Daiya’s CEO, says in the statement that the company is honoured to be part of Otsuka.

“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,” he says.

“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 more than 10 years.”

Daiya’s products are free from dairy, eggs, gluten, soy, peanuts, fish, meat and shellfish making them a great choice for vegans, those who suffer from allergies, are dairy-intolerant, or if you’re simply choosing a healthier lifestyle.

The range of plant-based foods features Greek Yogurt Alternatives, Pizzas, Cheezecakes, Cream Cheeze Style Spreads, and wonderful cheese alternatives, including Blocks, Shreds and Slices. Available in over 25,000 grocery stores in the U.S and Canada, they also have a global presence supplying shops in Australia, Hong Kong and Mexico.

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