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Client Work

Otsuka announces the acquisition of rapidly growing plant-based food innovator Daiya

Fasken
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Daiya Foods Inc.

On August 31, 2017, Otsuka Pharmaceutical Co., Ltd. (Otsuka), a global holistic healthcare company, acquired 100 percent 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.
 
Fasken Martineau advised Daiya and worked closely with its Board of Directors on all aspects of the transaction.
 
The team was lead by Ally Bharmal and Iain Mant and included Michael Coburn (Tax), Ariel Laver (Corporate), Martin Ferreira Pinho (Corporate and Securities), Tracey Cohen (Litigation), Samantha Chang (Litigation), Karam Bayrakal (Intellectual Property), Roger Kuypers (Intellectual Property), Lorene Novakowski (Employment), Richard Berrow and Michael Parrish (Insurance).

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