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Odd Burger Signs Letter of Intent to Acquire Zoglo's Food Corp, a leading Canadian plant-based CPG brand
Odd Burger Signs Letter of Intent to Acquire Zoglo's Food Corp, a leading Canadian plant-based CP...
About this update from Odd Burger Corporation
[{"type":"text","content":"\n \n \n \n Odd Burger Signs Letter of Intent to Acquire Zoglo's Food Corp, a leading Canadian plant-based CPG brand\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n LONDON, ON\n \n \n ,\n \n \n April 26, 2023\n \n \n /CNW/ - Odd Burger Corporation (\"Odd Burger\" or the \"Company\") (TSXV: ODD) (OTCBQ: ODDAF) (FSE: IA9) is pleased to announce that it has signed a non-binding letter of intent (\"LOI\") with Zoglo's Food Corp. (\"Zoglo's\") (CNSX: ZOG) to acquire 100% of its issued and outstanding common shares and combine the businesses (the \"Proposed Transaction\").\n \n \n \n \n \n \n \n \n \n Zoglo's is a leader in the plant-based consumer packaged goods (CPG) industry in\n \n Canada\n \n with over 3000 distribution points across the country. Zoglo's products can be found at major retailers including Walmart Canada, Metro, Food Basics, Sobeys, IGA and FreshCo. The Zoglo's product line is extensive and includes non-GMO plant-based burgers, sausages, hot dogs, meat balls and chicken, with 12 SKUs currently being distributed to the Zoglo's retail base.\n \n \n With a successful acquisition, Odd Burger expects to gain access to Zoglo's' food manufacturing network in both\n \n North America\n \n and\n \n Europe\n \n , which may provide significant benefits to Odd Burger as it scales its operations internationally. Furthermore, Odd Burger plans to launch some of its own branded products into retail which is expected to be facilitated through the acquisition with Zoglo's. Odd Burger would also provide Zoglo's with access to its food service channels, which may provide a new revenue stream for Zoglo's.\n \n \n \"This acquisition provides growth potential for both of our companies,\" says\n \n James McInnes\n \n , CEO and Co-Founder of Odd Burger. \"The retail distribution that Zoglo's has is nearly unmatched in the plant-based retail space in\n \n Canada\n \n 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.\"\n \n \n \"We...