Eat Beyond Global Holdings adds Zoglo's to alternative proteins portfolio

17-Feb-2021 - Last updated on 17-Feb-2021 at 17:24 GMT

Photo Credit: Zoglo Foods

Eat Beyond Global Holdings has made an investment in Zoglo's Incredible Food Corp, a kosher, plant-based foods manufacturer based in Canada.

In addition to Zoglo's, The Eat Beyond portfolio includes The Very Good Food Company; Eat Just, Inc.; Above Food; Nabati Foods, SingCell, TurtleTree Labs, and GoodNatured.

As a publicly-traded company in the US, Canada, and Germany, private investors and institutions can buy and trade Eat Beyond Global Holdings stock, and by some extension, “participate in the future of food,” said Eat Beyond CEO Patrick Morris.

Eat Beyond said that it anticipates to further increase its interest in Zoglo's by participating in its next round of financing.

Zoglo's has been producing kosher, plant-based foods for more than 25 years serving the North American, European, and Australian markets. Its portfolio includes plant-based meat, appetizers, and veggie products made from concentrated, non-GMO soy protein.

Primarily a retail brand available in Walmart, Sobeys, and Loblaws (in Canada), Morris said Zoglo's has ambitions to expand into new channels where it can apply its deep understanding of the plant-based consumer.

"The opportunity is massive for a brand with its impressive track record, and we anticipate that its planned launch in the foodservice business has tremendous potential for success," said Morris.

Zoglo's has recognize the growing demand the food industry has for protein-rich veggie burgers, nuggets, and meatless sausage products, all of which Zoglo's produces as part of its portfolio.

The company added how quick service restaurants are the biggest market for the pre-made veggie burgers in the US and Canada and that Zoglo's has plans to expand into this segment.