Business
Happy Belly Food Group Exercises Right to Acquire Remaining 50% of Heal Wellness QSR
Toronto, Ontario--(Newsfile Corp. - May 6, 2025) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leader in acquiring and scaling emerging food brands across Canada is pleased to announce that as of May 6th, 2025, it has exercised its right to acquire the remaining 50% of Heal Wellness ("Heal"), making the brand a 100% wholly owned subsidiary of Happy Belly. Heal is a fresh smoothie bowls, ...
About this update from Happy Belly Food Group Inc
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - May 6, 2025) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leader in acquiring and scaling emerging food brands across Canada is pleased to announce that as of May 6th, 2025, it has exercised its right to acquire the remaining 50% of Heal Wellness ("Heal"), making the brand a 100% wholly owned subsidiary of Happy Belly. Heal is a fresh smoothie bowls, acai bowls, and smoothies quick serve restaurant ("QSR"). "Three years ago to the day, Happy Belly signed a deal with the founding partners of Heal Wellness to enter into a joint venture for the purpose of operationalizing the business, preparing it for growth, and scaling the business. I am very proud of the results that we have achieved so far having successfully grown the business 10x, having grown from 2 locations to 20 locations (6 corporate and 14 franchised), with a significant amount still to open in 2025-2026. Backed by a development pipeline of 130 units across Canada, interest from both franchisees and landlords is rapidly increasing-paving the way for sustained and scalable organic growth coast to coast. This milestone is a clear reflection of what's possible when you have the 3 P's…people, process, and product," said Sean Black, Chief Executive Officer of Happy Belly."As a part of this transaction Heal Co-Founder Jesse Davidson will join the Happy Belly team full time and will be promoted to Brand Leader of Heal Wellness. The Heal Wellness concept has hit an inflection point of true hockey stick growth both in net new units (unit count) and in EBITDA in 2025. Which is why we've proactively invested in top-tier talent to support Jesse and the team as they manage the growing demand across Canada. Our franchise network continues to expand at a rapid pace, with new interest and inquiries coming in from across the country each week."","length":1978,"tagName":"p"},{"type":"text","content":""Acquiring the remaining 50% of Heal Wellness is a significant milestone for Happy Belly and provides shareholders a more detailed view of our joint-venture acquisition strategy. Happy Belly acquired 50% of Heal Wellness three years ago for a non-cash investment of $250,000 in Happy Belly stock (valued at $0.09 per share) into the j...