Israel’s largest agricultural cooperative and the leading manufacturer of milk and dairy products, Tnuva, last week entered the soy and tofu markets, now amongst the fastest developing in the global food area.
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Tnuva paid NIS50m (US$10.63m) for gaining full ownership of Magic-Soy, a local manufacturer of soy-based milk drinks and tofu products. According to a report in Yediot Aharanot, the newly purchased soy and tofu plant will be merged into Tnuva milk division and will be re-named “Tnuva-Soy”.
The report notes that Osem-Nestlé and Strauss Dairies jointly competed to gain control of Magic-Soy, “but Tnuva’s offer was higher”.
Tivall, a subsidiary of Osem-Nestle, which manufactures soy-based meat analogues, also plans to produce soy-based drinks and expand its line of tofu products.
By Aaron Priel, just-food.com correspondent
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