Japan-headquartered snacks group Calbee has acquired a majority stake in US-based tofu-maker Hodo.
Calbee said in a statement the deal for 58% of the business marks its entry into the US plant-based food market and aims to accelerate the growth of its international “health and food” businesses.
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In the same statement, Calbee said Sagamiya Foods, a Japan-based tofu manufacturer, will also take a 10% interest in Hodo.
Makoto Ehara, the CEO of Calbee, said: “As demand for sustainable foods grows, tofu is increasingly valued by health-conscious consumers. With its high plant-based protein content and minimal processing, tofu is drawing particular attention in the US market, where health and environmental concerns are driving growth.
“Our vision at Calbee is to build a global portfolio of foods that are enjoyable and meaningful.”
The deal is a part of Calbee’s three-year transformation plan initiated in February 2023, which the company said includes overseas expansion, especially in the US, and the development of the company’s “food and health” business.
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By GlobalDataFounded in 1949, Calbee produces breakfast cereals as well as snacks. Headquartered in Chiyoda city, it has manufacturing facilities in several countries, including the US, China, the UK and South Korea.
According to Calbee’s statement, Sagamiya will offer “technical support to help promote and expand tofu culture in the US”.
The food maker said: “Through Hodo’s strong foundation and unique product offerings in the US, and Sagamiya’s industry expertise, Calbee will address growing consumer demand in the food and health space while developing new market opportunities.”
Hodo acknowledged the twin stakes in its own statement. Based in Oakland, California, the business supplies retail and foodservice.
Founded in 2004, its portfolio also includes other plant-based foods such as nuggets, veggie-burgers and egg replacement products.
Minh Tsai, the founder of Hodo, said: “We blend tradition and innovation to create foods for consumers who are looking for healthier options but don’t want to compromise on taste. We are excited for Calbee’s vision and their commitment to offer better-for-you foods to consumers.”
