FULLERTON, CALIF. — Pulmuone Foods Co., Ltd. has signed an asset purchase agreement to acquire substantially all of the commercial assets and operations of Vitasoy USA Inc., an Ayer, Mass.-based soy foods company. The transaction includes Nasoya, America’s leading tofu brand. Financial terms were not disclosed.
Established in 1991, Fullerton-based Pulmuone Foods USA is a wholly owned affiliate of Pulmuone Foods Co., Ltd., a Korean holding company with more than 1.8 trillion KRW ($1.5 billion) in annual sales. The company’s U.S. portfolio includes the Monterey Gourmet Foods brand of pastas and sauces and the Wildwood brand of meat alternatives, salsas, hummus and dairy alternatives. The acquisition of Vitasoy USA is expected to strengthen Pulmuone’s global leadership in the tofu market, supported by combined production, distribution and market coverage.
“Pulmuone now has a strong national platform and presence that will not only drive manufacturing and logistics synergies but will also enable us to leverage a comprehensive sales and distribution infrastructure to further drive availability of our brands and products within the U.S.A.,” said H.Y. Lee, chief executive officer of Pulmuone Foods Co., Ltd. “This expanded business scale within the U.S.A. market will also be the beachhead to drive development and growth of Pulmuone beyond the tofu category.”Vitasoy USA produces premium tofu, Asian noodles and wraps, vegan sandwich spreads and hummus, soymilk, juice and teas under the brand names Nasoya, Azumaya, San Sui, Vita and Vitasoy.