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Vegan Cheese Brand Daiya Acquired for $325 Million

International brand Otsuka paid a hefty price to expand its plant-based portfolio.

International brand Otsuka announced today that it will acquire Canadian vegan cheese brand Daiya Foods for a sum of $406 million Canadian dollars ($325.5 million US). “Driven by a highly talented management team,” Otsuka’s President Tatsuo Higuchi said, “Daiya has developed a portfolio of high-quality, unique plant-based nutrition products, and built a strong brand with loyal customers. With our shared values, vision, and mission, together we will commit to the better wellness of people worldwide.” Once the acquisition is complete, Otsuka—which also owns the Nature Made vitamins brand—plans to expand Daiya’s presence in the North American market and, eventually, globally. A number of plant-based companies have struck similar multi-million dollar deals recently, including meat-alternatives brand Lightlife (acquired for $140 million by Maple Leaf Foods) and plant-based milk company WhiteWave (acquired for $12.5 billion by yogurt giant Danone).

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