Japan's Otsuka to acquire PE-backed Daiya Foods for $405 mln
Japanese holistic healthcare company Otsuka Pharmaceutical Co Ltd has agreed to acquire Daiya Foods Inc, a Vancouver maker of plant-based, allergen-free foods. Otsuka, an affiliate of Otsuka Holdings Co Ltd, agreed to pay $405 million for the business. Founded in 2008, Daiya sells its products in more than 25,000 stores across North America and in select international markets. The company will continue to be based in Canada and led by existing management, including CEO Terry Tierney, upon the deal's close. Daiya has since 2015 been backed by U.S. private equity firms Northwood Ventures and Stockton Road Capital.
31 July 2017•4 mins read
