Breaking News: Zoglo’s Incredible Food Signs LOI to Acquire European Plant-based Food Company Monday Swiss | Financial Buzz

Breaking News: Zoglo’s Incredible Food Signs LOI to Acquire European Plant-based Food Company Monday Swiss

Zoglo’s Incredible Food Corp. (CSE: ZOG) (“Zoglo’s” or the “Company”) is pleased to announce that it has signed a non-binding letter of intent (“LOI“) to acquire a 50.5% interest in Monday Swiss UK Ltd. (“Monday Swiss“), a leading European-based developer and manufacturer of innovative plant-based food alternatives (the “Proposed Acquisition“).  Monday Swiss’ experience in new product development will help ensure that Zoglo’s product portfolio continuously evolves to enable the Company to be a leader in the category in Canada and globally.

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 on-line grocery retailer, Ocado, with leading edge whole-muscle plant-based technology.

The Proposed Acquisition 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 $6M CAD from Monday Swiss, which would result in Zoglo’s annual revenue increasing by up to 200%.   

“The proposed acquisition of Monday Swiss represents the beginning of Zoglo’s commitment to sustainable global expansion and leading plant-based food innovation” said Anthony Morello, CEO of Zoglo’s. “This acquisition creates a strong business for Zoglo’s in Europe and the U.K. in conjunction with its current evolving business in Canada and existing US business.”

Pursuant to the terms of the LOI, Monday Swiss founder, Alon Cahn, will also join Zoglo’s as Chief Executive Officer of its European Operations strengthening the Company’s positioning within the European market. Cahn is an experienced manager, having worked in key positions in leading companies such as Wrigley’s and Nestle and has lived and worked in EuropeAsia and North America.

Cahn, a lifelong vegetarian and food enthusiast, founded Monday Swiss after difficulty finding quality plant-based meat alternatives that were high in protein, versatile and great tasting. Since inception, Monday Swiss has made significant advances in key product development areas such as Clean label, sustainability in production and sourcing and alternative plant-based proteins.

“With a production capacity of over 500,000 kilograms per month, and the ability to double our capacity by 2023, I believe Zoglo’s is poised to become one of the leading plant-based meat alternative companies globally”, said Alon Cahn.

The technology from Monday Swiss’ facility is expected to provide Zoglo’s with the next generation of meat analogues and the ability to bring industry leading texture, quality and innovation to North America.  The facility is certified BRC, Kosher OU, Halal, ISF and SMETA, so it is able to meet a wide range of consumer needs and customer demands.  It has four production lines which can produce frozen, chilled and RTE plant-based products and deliver complete packaging solutions.

The Company and Monday Swiss have entered into the LOI which sets out certain terms and conditions pursuant to which the Proposed Acquisition will be completed.  The terms outlined in the LOI are subject to the parties successfully entering into a definitive agreement in respect of the Proposed Acquisition on or before August 27, 2021 the (“Definitive Agreement“).  Pursuant to the terms of the LOI, it is contemplated that the Company will acquire 50.5% of the issued and outstanding securities of Monday Swiss in consideration for the issuance of common shares of the Company (the “Payment Shares“) pro rata to the selling shareholders of Monday Swiss with an aggregate value of 5.1M EUR (subject to adjustment in certain circumstances) at a deemed price per Payment Share of the greater of (i) $0.41; and (ii) the VWAP of the Company’s common shares on the Canadian Securities Exchange (the “CSE“) from the Company’s listing date on July 26, 2021until the date the Definitive Agreement is executed. The Payment Shares are not currently expected to be subject to any hold periods under applicable securities laws.

In addition, it is currently expected that the Company will invest up to an additional 750,000 EUR upon closing of the Proposed Acquisition to satisfy certain debts owing by Monday Swiss and or its subsidiaries and provide a loan of up to 1,000,000 EUR in order to develop new production capacity.

The Proposed Acquisition is an arms-length transaction and no change in the board of directors of the Company is being contemplated at this time. The Proposed Acquisition remains subject to certain closing conditions including, without limitation, (a) entering into the Definitive Agreement; (b) the completion of due diligence; and (c) the receipt by the Company of all necessary corporate and regulatory approvals, including the approval of the CSE, as applicable. There can be no assurance that the Proposed Transaction will be completed as contemplated, or at all.

For further details about Monday Swiss and its Veggie Day products, please visit their website.


Zoglo’s Incredible Food Corp. is a publicly-traded plant-based food company which offers nutrient-rich, plant-based appetizers, veggies, and meat substitutes to fulfill consumers needs for all occasions and cooking requirements. The Company’s wholly-owned subsidiary, Zoglo’s Incredible Food Inc., currently offers 14 products through its Traditional Green Box product line and aims to offer 12 innovative products for the mainstream market through its new Zoglo’s Incredible Black Box product line. Over the past 25 years, Zoglo’s products have been in distribution in over 700 retail stores across Canada including Walmart, Shoppers Drug Mart, Sobeys and Loblaws, and has representation in the United States and Europe. The Company trades on the Canadian Securities Exchange under the ticker: ZOG.

Sponsored Content Release. Click for Full Disclosure

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!

  • Sponsored Content Release, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production, and integration of social media, creates 100% unique original content. also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

    Please Note: is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content),, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. receives fees for producing and presenting high quality and sophisticated content on along with other financial news PR media services. does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For zoglo’s incredible food corp. video production, filming editing, news reporting, financial and corporate news dissemination, has been compensated five thousand dollars by Rok Consulting Inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. will always disclose any compensation in securities or cash payments for financial news PR advertising. does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security., members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: