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July 28, 2017

Canada’s Daiya Foods to be bought by Japanese firm

Canadian free-from group Daiya Foods is to be acquired by Japan's Otsuka Holdings for CAD405m (US$324.8m).

By Andy Coyne

Canadian free-from group Daiya Foods is to be acquired by Japan’s Otsuka Holdings for CAD405m (US$324.8m).

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The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
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Otsuka is a global healthcare company based in Tokyo but it has interests in the food sector, including the French group Nutrition & Santé.

The deal for Daiya is expected to help increase the Canadian firm’s presence throughout North America and beyond.

Otsuka operates worldwide, including in the US and Canada, but the acquisition of Daiya will expand Otsuka’s product portfolio, adding a new category of plant-based products in North America.

Tatsuo Higuchi, president and representative director of Otsuka, said: “We are excited to welcome Daiya to Otsuka group. Driven by a highly talented management team, Daiya has developed a portfolio of high-quality, unique plant-based nutrition products and built a strong brand with loyal customers. 

“We believe this will be an important pillar for our nutraceutical business. With our shared values, vision and mission, together we will commit to the better wellness of people worldwide.”

Terry Tierney, Daiya’s CEO, said: “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 over ten years.”

Founded in 2008, Daiya was among the pioneers in developing plant-based cheese alternatives.

The acquisition will be by a plan of arrangement under British Columbia law and will be subject to, among other things, the approval of Daiya shareholders.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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