Zoglo’s has announced that it has entered into a binding memorandum of understanding (“MOU”) to acquire a 51 per cent interest in Monday Swiss UK Ltd., a leading European-based developer and manufacturer of innovative plant-based food alternatives.
Established in 2012, Monday Swiss is a leading producer of a wide variety of plant-based food products and technology, including the Veggie Day and Monday Swiss lines, with a dedicated state-of-the-art facility. Monday Swiss has invested over $3M in R&D over the past 5 years, servicing major customers such as Tesco, Holland & Barrett, Co-Op, and leading online grocery retailer, Ocado, with leading-edge whole-muscle plant-based technology.
The Proposed Acquisition of Monday Swiss will provide Zoglo’s the capacity to expand globally and provide its customers with the next generation of plant-based foods and is expected to increase annual sales by up to $6 million CAD.
“Following extensive due diligence of Monday Swiss, we feel confident entering into a binding MOU to facilitate the acquisition of a world-class plant-based company with a production capacity of over 500,000 kilograms per month,” said Anthony Morello, CEO of Zoglo’s. “This acquisition creates a strong business and synergies for Zoglo’s in Europe and the U.K. in conjunction with its current evolving business in Canada and the US.”
The technology from Monday Swiss’ facility is expected to provide Zoglo’s with the next generation of meat analogues and the ability to bring innovation to North America. The facility is certified BRC, Kosher OU, Halal, ISF and SMETA. It has four production lines that can produce frozen, chilled and ready-to-eat plant-based products and deliver complete packaging solutions.