Food Business News:

VANCOUVER, B.C. — Otsuka Pharmaceutical Co., Ltd. has entered into a definitive agreement to acquire Daiya Foods Inc., a manufacturer of plant-based foods, for C$405 million ($325.5 million).

“The acquisition … is expected to help increase Daiya’s presence throughout North America and beyond while creating a global plant-based platform,” Otsuka said. “The acquisition of Daiya greatly expands Otsuka’s product portfolio, adding a new category of plant-based products in North America, and provides Daiya with a like-minded partner with expertise in consumer brands, R.&D. and manufacturing, and global markets.”

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