Otsuka Pharmaceutical acquires Daiya Foods

On August 31, 2017 Otsuka Pharmaceutical Co., Ltd. (Otsuka), a global holistic healthcare company, acquired 100 per cent of Daiya Foods Inc. (Daiya), a privately held Vancouver based company specializing in the manufacture of plant-based foods. 

A landmark transaction for the natural food industry, the acquisition of Daiya greatly expands Otsuka’s product portfolio, adding new categories of plant-based products in North America. This also provides Daiya with a partner that has expertise in consumer brands, R&D, manufacturing, and global markets that can elevate the brand to new heights. 

The acquisition proceeded by way of Plan of Arrangement under British Columbia law, and was approved by the Daiya board and its shareholders. 

Baker McKenzie advised Otsuka with a team led by Jeremy White, Mami Ohara and Yoshitomo Matsuura in the firm’s Tokyo office and included Nicholas Marchica in New York and Cathy Qi in Toronto. 

Fasken Martineau DuMoulin LLP advised Daiya with a team led by Ally Bharmal and Iain Mant and included Michael Coburn (tax), Ariel Laver (corporate), Martin Ferreira Pinho (corporate and securities), Tracey Cohen and Samantha Chang (litigation), Karam Bayrakal and Roger Kuypers (intellectual property), Lorene Novakowski (employment), and Richard Berrow and Michael Parrish (insurance).