Zoglovek Expands Internationally, Acquires 70% Stake in Thai Plant-Based Meat Producer

Zoglovek, the Israeli food company, has taken its first step outside Israel by acquiring a 70% stake in Plant & Bean, a Thai manufacturer of plant-based meat substitutes. The deal was announced on Tuesday, though the financial terms were not disclosed. Plant & Bean operates a 3,000-square-meter facility producing self-developed products, private label items, and custom products for external clients, including major food companies in Europe and the US, one of which is a leading plant-based food company. The remaining 30% of Plant & Bean is owned by Innobic, the life sciences arm of PTT, a state-controlled Thai energy conglomerate that also operates in food, pharmaceuticals, and nutritional supplements.

Zoglovek plans to use the Thai factory as a production platform for both the Israeli market and international customers. The company intends to double the factory's size and add new production lines to expand its plant-based product offerings. Some production will be marketed under external clients' brands using a white-label model. Alongside the acquisition, Zoglovek is restructuring its leadership: Eli Zoglovek will become president of international operations and relocate to Thailand to lead the new venture. Eli has prior experience in the plant-based meat sector, having founded a US company in the 1990s that was later acquired by Nestlé. Meanwhile, Zion Bales, former CEO of Strauss Israel and Strauss Coffee, will take over as active chairman of Zoglovek.

This expansion follows AP Partners' investment in Zoglovek in August 2025, which marked the entry of a major shareholder. Founded 89 years ago and based in northern Israel's Western Galilee, Zoglovek primarily serves the Israeli market with meat products, sausages, and plant-based alternatives. Eli Zoglovek emphasized that the partnership with Innobic and PTT provides a strong platform for growth beyond Israel. This move aligns with rising global demand for plant-based foods amid soaring poultry prices and recent government restrictions on imports in Israel.