Tofurky Acquired by International Company
By Cole Goodwin
Tofurky, the family operated US-based manufacturer of plant-based meats, headquarterd in Hood River, OR has been acquired by Morinaga Nutritional Foods, which also purchased Moocho, Tofurky’s sister brand. The sale follows a sustained period of growth in market demand for plant-based foods.
An image from Tofurky’s facebook page.
The California based company Morinaga Nutritional Foods is known for manufacturing Mori-Nu Silken Tofu, a line of silken tofu that is widely sold across the U.S. and around the world. Their acquisition of Tofurky, means that Moringa now owns the third most popular plant-based meat alternative food company in the U.S.
The relationship between Tofurky and Morinaga Nutritional Foods dates back almost two decades. Morinaga Nutritional Foods’ acquisition of Tofurky and Moocho will enable the brands to grow by strengthening the integrated supply chain and increasing the operational efficiency of Tofurky’s Hood River, Oregon facility.
“We’ve been working with the team at Morinaga for nearly two decades, and over that course of time realized the multiple synergies our organizations have across our businesses – from supply chain and operations to new product development targets,” said Jaime Athos, President and CEO of Tofurky. “We’re very proud of what we’ve achieved thus far as an independent and family-operated company, but as we enter our next stage of growth, Morinaga will provide the platform needed to help us expand more aggressively in the U.S. and beyond.”
Tofurky has stated that it will continue to maintain the core values, product availability, and original recipes of both Tofurky and Moocho brands. Morinaga Nutritional Foods is focused on producing shelf-stable tofu that is differentiated from traditional refrigerated options in the category. Tofurky and Moocho products are 100% non-GMO and available for vegans, flexitarians, and anyone who loves comfort foods.
“Tofurky has a proven track record of success in the U.S. and is a significant player in the plant-based category with many loyal fans,” said Hiroyuki Imanishi, President and CEO of Morinaga Nutritional Foods. “We’re excited to help bolster both Tofurky and Moocho’s presence in the U.S. while strengthening manufacturing efficiencies and boosting new product development to meet ever-increasing marketplace demand.”
Marketplace demand has increased significantly in recent years. Overall, plant-based food sales grew three times faster than total food sales in 2021.
According to the Good Food Institute, the demand for plant-based foods has grown by nearly 54% between 2018 and 2021, leading to a nearly $7.4 billion market. The plant-based meat alternatives category also grew up 74% between 2018-2021, outpacing conventional meat sales growth by almost three times.
A graph from the Good Food Institute’s 2021 report.
