Calbee acquires majority stake in tofu business Hodo

Core Insights - Calbee has acquired a 58% stake in US-based tofu-maker Hodo, marking its entry into the US plant-based food market and aiming to accelerate the growth of its international "health and food" businesses [1][2] - Sagamiya Foods, a Japan-based tofu manufacturer, will also take a 10% interest in Hodo, providing technical support to promote and expand tofu culture in the US [1][3] Company Strategy - The acquisition aligns with Calbee's three-year transformation plan initiated in February 2023, focusing on overseas expansion, particularly in the US, and the development of its "food and health" business [2][4] - Calbee's CEO highlighted the growing demand for sustainable foods, particularly tofu, which is gaining traction among health-conscious consumers in the US market [2][4] Hodo's Position - Hodo, founded in 2004 and based in Oakland, California, supplies retail and foodservice and offers a portfolio that includes other plant-based foods such as nuggets, veggie-burgers, and egg replacement products [4][5] - Hodo's founder expressed excitement about Calbee's vision and commitment to providing healthier food options without compromising on taste [5]