Pulmuone buys part of Vitasoy USA for $50m

Pulmuone, Korea’s top tofu brand, has agreed to acquire part of Vitasoy USA in a deal valued at $50 million, the Korean firm said Thursday.

Pulmuone will take over all Vitasoy operations and brands, except its soybean milk business. Based in Ayer, Massachusetts, Vitasoy USA holds a 60 percent share of the U.S. tofu market with the Nasoya and Azumaya brands. 

“(We) expect the acquisition to help boost Pulmuone’s presence in the U.S. market,” the Seoul-based Pulmuone said in a filing.

Pulmuone entered the U.S. market in 1991 and has expanded its business operations there through acquisitions of Wildwood Natural Foods in 2004 and Monterey Gourmet Foods in 2009. 

By Lee Sun-young (milaya@heraldcorp.com)