TOKYO -- Japanese dairy company Morinaga Milk Industry announced Friday a pair of acquisitions abroad, including of the American company behind Tofurky soy-based foods.
Morinaga said it would purchase Tofurky maker Turtle Island Foods Holdings through a U.S. unit for $12.4 million and turn it into a wholly owned subsidiary. Turtle Island logged sales of approximately $42 million for 2021. The American unit said Morinaga supplies tofu to Tofurky, the third-largest retail brand for plant-based meats in the U.S.
