Calbee takes majority stake in US tofu maker Hodo to expand plant-based business

Calbee has acquired a majority 58% stake in Hodo, a US tofu and plant-based food producer, marking its first entry into the American plant-based foods market. The deal is part of Calbee’s strategy to expand its Health and Food division and strengthen its international footprint.

The transaction also includes Sagamiya Foods, one of Japan’s leading tofu manufacturers, taking a 10% stake in Hodo. Sagamiya will contribute technical expertise to support Hodo’s operations and help expand awareness of tofu culture in the USA.

Makoto Ehara, CEO of Calbee, said the acquisition reflects the company’s commitment to aligning with shifting consumer preferences. “As demand for sustainable foods grows, tofu is increasingly valued by health-conscious consumers,” Ehara said. “With its high plant-based protein content and minimal processing, tofu is drawing particular attention in the US market, where health and environmental concerns are driving growth. Our vision at Calbee is to build a global portfolio of foods that are enjoyable and meaningful. The addition of Hodo to the Calbee Group marks an important step in strengthening our Health and Food businesses as well as expanding our global presence.”

Founded in 2004 and headquartered in Oakland, California, Hodo has established itself as a prominent tofu brand in the USA. Its products include tofu, yuba, and a range of plant-based foods made from organic, non-GMO soybeans. Rich in protein and nutrients, and gluten-free, Hodo’s offerings are known for their quality and distinctive production process.

Unlike mass-market tofu, Hodo’s method preserves authentic flavor and delivers a firmer texture, allowing the tofu to maintain its shape during cooking. This quality has helped the company gain recognition among health-conscious consumers and Michelin-starred chefs alike.

The move builds on Calbee’s 'Change 2025' transformation plan, launched in February 2023, which emphasizes overseas expansion and investment in health-focused food businesses. While Calbee is best known internationally for its snack products, such as potato chips and savory crisps, the company has identified the US market as central to its long-term growth strategy.

The Health and Food division is one of the core growth pillars within the plan, focusing on business models that support healthier lifestyles. By acquiring a majority stake in Hodo, Calbee intends to pair its global scale and distribution capabilities with Hodo’s established brand reputation and expertise in tofu manufacturing.

Sagamiya’s minority investment adds another layer to the partnership. Founded in Japan with a long tradition of tofu craftsmanship, Sagamiya has developed a reputation for blending traditional production techniques with innovation. Its involvement in Hodo will provide technical support and product development insight aimed at broadening the appeal of tofu in the USA, where plant-based proteins are gaining traction among mainstream consumers.

For Hodo, the partnership with Calbee and Sagamiya represents an opportunity to accelerate growth and reach new audiences. The backing of two established Japanese food companies positions it to scale operations while continuing to emphasize quality and authenticity.

The acquisition also reflects a broader trend of multinational food corporations investing in plant-based and sustainable food companies as consumer preferences evolve. Tofu, once a niche product in the USA, has become increasingly mainstream as demand for protein alternatives grows. Health, environmental, and ethical considerations are fueling interest, with plant-based foods now stocked widely across major US retailers.

Hodo has been part of that shift, carving out a reputation for premium tofu products that cater to both retail consumers and chefs in the foodservice industry. Its emphasis on organic, minimally processed, and protein-rich products has helped it stand out in a crowded market.

By combining Hodo’s strong brand identity and local expertise with Calbee’s international reach, the companies aim to accelerate growth in the US while positioning tofu more firmly as a staple for health-conscious consumers.

Sagamiya’s role further emphasizes the cultural dimension of the partnership. The company has long sought to promote Japanese tofu craftsmanship globally, and its stake in Hodo provides a platform to share its approach with American consumers. In doing so, it hopes to both preserve the traditions of tofu making and adapt them to new markets.

Through the partnership, Calbee, Sagamiya, and Hodo intend to respond to growing consumer demand for nutritious, sustainable, and versatile food options. For Calbee, the deal provides a foothold in a fast-growing segment of the US food industry, aligning its transformation agenda with consumer trends shaping the global market.