M&A Deal Summary

Otsuka Pharmaceutical Acquires Daiya Foods

On July 27, 2017, Otsuka Pharmaceutical acquired food company Daiya Foods from Stockton Road Capital and Northwood Ventures for 405M CAD

Acquisition Highlights
  • This is Otsuka Pharmaceutical’s 2nd transaction in the Food sector.
  • This is Otsuka Pharmaceutical’s 3rd largest (disclosed) transaction.
  • This is Otsuka Pharmaceutical’s 1st transaction in Canada.
  • This is Otsuka Pharmaceutical’s 1st transaction in British Columbia.

M&A Deal Summary
Date 2017-07-27
Target Daiya Foods
Sector Food
Buyer(s) Otsuka Pharmaceutical
Sellers(s) Stockton Road Capital
Northwood Ventures
Deal Type Add-on Acquisition
Deal Value 405M CAD

Target

Daiya Foods

Vancouver, British Columbia, Canada
website
Daiya Foods, Inc. is an allergen-free food company. Daiya products are always free of dairy, gluten, and soy and use only naturally-occurring ingredients with food first, flavor-forward philosophy. Daiya Foods was founded in 2008 and is based in Vancouver, British Columbia.

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Buyer(S) 1

Buyer

Otsuka Pharmaceutical

Tokyo, Japan

website

Category Company
Founded 2008
Sector Healthcare Services
Employees32,992
Revenue 1,498.3B JPY (2021)
DESCRIPTION

Otsuka Group is striving to cultivate a culture and a dynamic corporate climate reflecting our vision as a healthcare company. As such we are dedicated to achieving global sustainability, to our relationships with local communities and to the protection of the natural environment. Otsuka Holdings was founded in 2008 and is based in Tokyo, Japan.

DEAL STATS #
Overall 5 of 8
Sector (Food) 2 of 2
Type (Add-on Acquisition) 5 of 6
State (British Columbia) 1 of 1
Country (Canada) 1 of 1
Year (2017) 2 of 2
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-03 Neurovance

Cambridge, Massachusetts, United States

Neurovance, Inc. is a clinical stage neuroscience-focused company. Hypothesis-driven, proprietary research at Neurovance discovered and developed centanafadine (CTN), a triple reuptake inhibitor that represents a novel approach to help adults and children with ADHD, Attention-Deficit Hyperactivity Disorder.

Buy $100M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-10 ReCor Medical

Palo Alto, California, United States

ReCor Medical, Inc. is a medical device company that designs and manufactures the Paradise System, a proprietary ultrasound ablation system for renal denervation (RDN). RDN is a new potential therapeutic approach for the treatment of hypertension, one of the most prevalent medical conditions.

Buy -

Seller(S) 2

SELLER

Stockton Road Capital

Los Angeles, California, United States

website

Category Private Equity Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Stockton Road Capital is a specialized private equity investment firm that targets consumer products and services companies. The Firm focuses on profitable businesses with brand differentiation and experienced management. Stockton looks to invest at least $5 million in companies with at least $10 million in revenue. Specific areas of interest include beauty and personal care, consumer healthcare, fitness/active lifestyle/athletics, food/beverage, health/wellness, household products, luxury/lifestyle, and nutrition. Prospective transaction types include MBOs, growth capital financings, turnarounds, and family owned businesses facing transition. Stockton Road Capital was founded in 2009 and is based in Hoboken, New Jersey.

DEAL STATS #
Overall 5 of 5
Sector (Food) 2 of 2
Type (Add-on Acquisition) 4 of 4
State (British Columbia) 1 of 1
Country (Canada) 2 of 2
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-07 Jamieson Wellness

Toronto, Ontario, Canada

Jamieson Wellness is a manufacturer and distributor of natural health products and a worldwide innovator in the development of proprietary supplement formulas. Jamieson Wellness was founded in 1922 and is based in Toronto, Canada.

Sell -
SELLER

Northwood Ventures

Syosset, New York, United States

Investor Investor Investor

website

Category Private Equity Firm
Founded 1983
PE ASSETS 100M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Northwood Ventures is a private investment firm that invests at all stages of company development, including venture, buyout, consolidation, growth, recapitalization, and turnaround situations. Northwood prefers opportunities located within the US and will consider both minority and control situations. Northwood's typical investment ranges from $5 to $15 million. Target sectors include telecommunications, manufacturing, retailing/consumer, financial services, and service-oriented business industries. Northwood Ventures was formed in 1983 and is based in Syosset, New York.

DEAL STATS #
Overall 44 of 49
Sector (Food) 2 of 2
Type (Add-on Acquisition) 19 of 20
State (British Columbia) 1 of 1
Country (Canada) 1 of 1
Year (2017) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-30 Interboro Insurance

Mineola, New York, United States

Interboro Insurance Co., Inc. is a personal lines property and casualty insurer offering automobile and homeowners insurance to residents. The company provides insurance to consumers through over one hundred independent brokers.

Sell $57M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-08 STRIX Group

Ronaldsway, United Kingdom

The Strix Group is the worldwide manufacturer of controls and cordless interfaces for kettles, jugs and a wide range of other water boiling appliances. STRIX Group was founded in 2017 and is based in Ronaldsway, the United Kingdom.

Sell -
Mergr

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