Zoglovek Expands Into Thailand, Acquires Majority Stake in Plant-Based Meat Producer

Zoglovek, an Israeli sausage company, is expanding into the plant-based meat sector by acquiring a 70% stake in Plant & Bean, a Thai manufacturer specializing in meat substitutes and plant-based products. The company did not disclose the acquisition price or investment amount. Plant & Bean operates a relatively small facility of 3,000 square meters, comparable to a large supermarket in Israel, which Zoglovek plans to replace with a new investment.

Plant & Bean produces innovative products and offers tailor-made manufacturing services for other companies, supplying major Western firms. Zoglovek intends to market these products in Israel as well. Eli Zoglovek, son of the company founder who sold control last year, will relocate to Thailand to serve as president of the international operations, stepping down as chairman. Zoglovek previously founded and managed a plant-based meat company in the United States.

Zion Bels, former CEO of Strauss Israel and a candidate for its CEO position, has been appointed as the new active chairman of Zoglovek. The remaining 30% of Plant & Bean shares will be held by INNOBIC, a subsidiary of Thailand's national energy corporation PTT, one of the country's largest companies.