Toronto, Ontario (May 5th, 2023) – Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: VGANF) (“Happy Belly” or the “Company”), a leading consolidator of emerging food brands is pleased to announce that HEAL Wellness has signed for and begun construction plans to open a 6th corporate location located in Mississauga’s neighborhood of Port Credit, Ontario.
“This new store location is HEAL’S fourth (4th) net new store location since being acquired one year ago, demonstrating an ability to quickly integrate into existing infrastructure provided by Happy Belly to maximize operational efficiency and accelerated speed to market ability for real estate. Furthermore, the new location will replicate the successful integration and leveraging of shared resources that is currently being utilized across our brand portfolio”, said Sean Black, Chief Investment Officer of Happy Belly.
“Shareholders can start to see a repeatable pattern emerging with our ability to organically grow our brands post acquisition. We share and leverage infrastructure across the portfolio while enabling access to our shared resource pool that provides access to SMEs not always available to brands during their growth phase. Our approach has always been to specialize in the development and growth of emerging brands in the food sector.”
“This new location expands HEAL’s customer reach in an area that is heavily populated and is demographically aligned to the brand, giving us tremendous opportunity in-store, as well as delivery. Having a stable of emerging QSR growth brands is what will allow Happy Belly to quickly leverage real estate opportunities like this recent project to accelerate our disciplined organic growth. We look forward to continuing to execute on our model as we accelerate our business organically and inorganically through accretive M&A. The rapid expansion of the Heal Wellness brand is a prime example of what our team can do with a great brand. As free cash flow increases from the brand we anticipate accelerating our corporate store development schedule with supplemental growth coming from our franchise program as that starts to roll out in the back half of 2023.”
The new location anticipates operations to commence with a grand opening in July. HEAL Wellness was an accretive acquisition by Happy Belly Food Group, and it is anticipated that the new store location will continue to drive both the top line and bottom line of the company.
About Heal Wellness
Prior to becoming a founding partner of Heal Wellness, Jay Zuccato was a spokesperson alongside a globally distributed nutritional companies to market health and wellness foods. Long-time childhood friend and also a founding partner of Heal Wellness, Jesse Davidson, specialized in business operations with one of Canada’s top protein companies as they grew nationwide in operations and storefronts.
With these strong backgrounds and a passion for wellness, they came together to identify a need for a quick-serve healthy food lifestyle. In June of 2019, they responded to this need by opening the first Heal Wellness location in their hometown of Hamilton, Ontario with the goal of being at the forefront of the health food revolution.
“Heal Wellness was created out of a passion and mission to serve quick, fresh wellness foods that power and support a busy, active lifestyle. Currently, we are pleased to offer a wide variety of smoothie bowls, smoothies, and delicious breakfast waffles. We are proud to highlight that every superfood ingredient in the Heal Wellness menu is carefully selected with the intention of fueling the body with a reduced ecological footprint,” said Jesse Davidson, Co-founder of Heal Wellness.
About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: VGANF) (“Happy Belly” or the “Company”) is a leading consolidator of emerging food brands.
Happy Belly Food Group
Chief Executive Officer
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