Odd Burger to acquire Zoglo's
London, Ont.-headquartered vegan fast-food restaurant chain Odd Burger Corp. has struck a deal to acquire plant-based CPG company Zoglo’s Food Corp.
Odd Burger said it has signed a non-binding letter of intent to purchase Zoglo’s, which has more than 3,000 distribution points across Canada.
As part of the deal, Odd Burger expects to access the company’s manufacturing network in North America and Europe, which it says may allow it to scale its operations internationally.
Odd Burger also plans to launch some of its own branded products into retail which is expected to be facilitated through the acquisition.
Zoglo’s, meanwhile, would gain access to Odd Burger’s food service channels.
READ: Zoglo’s CFO steps down, Doug Harris tapped for position
"This acquisition provides growth potential for both of our companies," said James McInnes, CEO and co-founder of Odd Burger, in a statement. "The retail distribution that Zoglo's has is nearly unmatched in the plant-based retail space in Canada and I believe that we can leverage this distribution to both monetize our own products and also make Zoglo's products even more successful in their category."
Zoglo's products can be found at retailers including Walmart Canada, Metro, Food Basics, Sobeys, IGA and FreshCo. The Zoglo's product line includes non-GMO plant-based burgers, sausages, hot dogs, meatballs and chicken, with 12 SKUs currently being distributed to the Zoglo's retail base.
"We are thrilled to announce our intention to join forces with Odd Burger Corporation, a company that shares our passion for plant-based foods and sustainable business practices." said Val Jedras, CEO of Zoglo's. "With over 25 years of experience in the Canadian plant-based consumer packaged goods industry, we have built a strong brand and loyal customer base. By combining our resources and expertise with Odd Burger, we believe we can accelerate our growth and expand our reach both domestically and internationally. We are excited about the potential of this partnership and look forward to working closely with the Odd Burger team to bring delicious and nutritious plant-based products to more consumers around the world."
