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Happy Belly Food Group Inc. (HBFGF) is a leading consolidator of emerging food brands, aiming to build a diverse portfolio of high-growth restaurant brands. The company recently secured a $2,000,000 CDN private placement with K2 & Associates, a multi-strategy hedge fund, to expand its brand offerings. The funding will help Happy Belly accelerate its growth strategy, with a focus on acquiring cash-flow accretive opportunities. The company's active pipeline of potential targets indicates promising organic growth alongside strategic acquisitions. With a robust capital-light model, Happy Belly is well-positioned to scale its brand acquisitions efficiently.
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) has opened its newest Joey Turks Island Grill location in Scarborough, Ontario. This marks the first franchised location for the Caribbean-inspired fast-casual restaurant brand, opened just four months after securing the real estate. The new outlet is situated at 1900 Eglington Avenue East, in a diverse area with strong Caribbean cultural roots.
This opening demonstrates Happy Belly's ability to execute its accelerated growth plan, having launched the Joey Turks brand from scratch, opened a corporate location, signed a 30-unit Area Development agreement, and now opened a franchised location in just over 13 months. The company has a total of 376 contractually committed retail locations in the pipeline across all its emerging brands, focusing on an asset-light franchising model to drive revenue and profitability growth.
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) has announced the opening of its newest Heal Wellness franchise location in West Abbotsford, British Columbia. This marks the 10th Heal location overall, the 2nd in British Columbia, and the 5th franchised location opened by Happy Belly this year. The company has a pipeline of 60 committed units for Heal across Canada and the US.
Happy Belly's portfolio expansion includes 376 contractually committed retail locations across all its emerging brands. The West Abbotsford location is expected to tap into a growing market with a focus on health and wellness. The company is actively working on sourcing real estate, reviewing franchisee applications, and collaborating with area developers to accelerate its asset-light franchising model growth.
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) has secured a real estate location for its sixth Rosie's Burgers franchise in Burlington, Ontario. The new location will be at 2500 Appleby Line, joining Starbucks and other premium retailers on a high-profile corner. This development comes just 30 days after announcing the signing of a franchisee for this location, demonstrating the company's efficient process in securing premium locations.
This marks the first of a contractually committed 30 units for Rosie's in Ontario, aligning with Happy Belly's strategy for disciplined organic growth. The company chose Burlington for its vibrant dining scene, strong community, high standard of living, and strategic location between Toronto and Hamilton. Happy Belly aims to leverage this expansion to enhance shareholder value and establish a stronger presence in the QSR space.
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) has signed a binding LOI agreement to acquire 50% of SALUS Fresh Foods, a QSR restaurant chain with nine locations in Ontario. This marks Happy Belly's third acquisition in 2024, bringing their total to eight restaurant brands and ten brands overall. SALUS Fresh Foods is experiencing a +19% increase in same-store sales YOY. The acquisition details include:
- Happy Belly will issue shares worth $300,000 for 50% ownership
- Estimated purchase price of 4x EBITDA
- Closing expected within 30-90 days
- Option to acquire remaining 50% in the future
This acquisition aligns with Happy Belly's strategy of consolidating emerging food brands and is expected to bring synergies in operations, franchising, and expansion opportunities.
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) has announced the signing of its first franchisee in Quebec for Yolks Breakfast, expanding its national franchising program to four provinces. This marks the ninth new franchisee agreement for Yolks since its acquisition seven months ago, bringing the brand's total to twelve. The company now has commitments for 376 franchised units across seven brands and four Canadian provinces.
The new Yolks location will be in Montreal's West Island vicinity. Happy Belly's Chief Investment Officer, Sean Black, highlighted the rapid progress, noting that the first Quebec franchisee was signed just five weeks after announcing a 26-unit area development agreement for the province. The company's asset-light franchise model continues to attract significant interest, with the breakfast category being one of the fastest-growing sectors in the restaurant industry.
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) has signed a significant area development agreement for its Heal Wellness brand in Ontario. The deal, signed on July 23rd, 2024, involves opening 40 franchised restaurants in the province, focusing on fresh smoothie bowls, acai bowls, and smoothies.
This agreement is part of Happy Belly's strategy to accelerate growth in the health and wellness category, which is described as one of the fastest-growing sectors in the restaurant industry. The area developer, Scott Grandin, is praised for his expertise in brand development in Ontario.
Happy Belly now has a total of 366 contractually committed retail locations in its portfolio, including 90 for Heal alone. The company is actively working on sourcing real estate, evaluating franchisee applications, and collaborating with area developers to expand its asset-light franchising model across Canada.
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) has announced the opening of its newest Heal Wellness franchise in Sherwood Park, Alberta on July 20th, 2024. This marks the second Heal store opening in Western Canada in the past six weeks, with seven more locations under construction in Alberta and British Columbia. The company has a contractual commitment of 50 units for Heal in Western Canada.
The new location at 905-8005 Emerald Drive is the first Heal Wellness in Alberta. Happy Belly currently has six QSR brands with new locations under construction across Canada. The company anticipates that the Sherwood Park location will significantly extend Heal's customer base in a rapidly growing area that aligns well with the brand's health-focused demographics.
Happy Belly has a total of 326 contractually committed retail locations in the pipeline across all its emerging brands. The company is focusing on sourcing real estate locations, reviewing franchisee applications, and working with area developers to accelerate the growth of its asset-light franchising model.
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: VGANF) has announced the signing of a franchisee for its seventh Rosie's Burgers location in Oakville, Ontario. This marks the fourth franchise agreement in the last four weeks, spanning two provinces. Rosie's Burgers, a boutique QSR brand, offers smash burgers, poutine, onion rings, and milkshakes.
Sean Black, Chief Investment Officer, noted that Rosie's growth is outpacing the early success of their previous brand, Burgers Priest, attributing this to their asset-light franchise model. Oakville was chosen for its affluent population, higher-than-average median household income, and thriving retail environment, making it an ideal market for Rosie's expansion.
Happy Belly Food Group announced the signing of a new franchise agreement for its Heal Wellness brand in Whitby, Ontario. Heal Wellness specializes in fresh smoothie bowls, acai bowls, and smoothie quick-serve restaurants. Whitby, part of the Greater Toronto Area, is noted for its health-conscious population and thriving local economy, making it an ideal location. This agreement is part of Happy Belly's strategy to accelerate growth through its franchise program, which provides franchisees with a proven business model. The company aims to expand both organically and through strategic M&A, leveraging increased free cash flow to enhance corporate store development.
Happy Belly Food Group has announced the addition of a new White Cheddar flavor to its LumberHeads Popcorn line. This new flavor is gluten, dairy, and peanut-free, aiming to cater to those with dietary restrictions and health-conscious consumers.
Additionally, the company has expanded its retail distribution, introducing LumberHeads Popcorn to new locations. CEO Shawn Moniz emphasized that the company's growth strategy is driven by organic growth and a focus on sales-driven operations, resulting in steady growth for the first half of 2024.
Happy Belly aims to accelerate product development and market growth through its shared services model and expects continued distribution and sales growth into the second half of the year.
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