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The Market Online
2 days ago
- Business
- The Market Online
Happy Belly Food Group to open first Rosie's Burgers in B.C.
High-growth restaurant developer Happy Belly Food Group (CSE:HBFG) signed a deal for its first Rosie's Burgers location in British Columbia (B.C.) The location, on the University of British Colombia's Vancouver campus, is part of a multi-unit franchise agreement for five Rosie's Burgers in B.C. signed on March 27 Happy Belly Food Group is the parent company of a growing number of food brands, including Rosie's Burgers, Holy Crap, Lumber Heads Food Co., Yolks, Lettuce Love Café, Pirho Fresh Greek Grill, Joey Turks Island Grill and Via Cibo Happy Belly stock has added 81.97 per cent year-over-year and 825 per cent since adopting the Happy Belly name in August 2022 High-growth restaurant developer Happy Belly Food Group (CSE:HBFG) signed a deal for its first Rosie's Burgers location in B.C. The location, on the University of British Colombia's Vancouver campus, is part of a multi-unit franchise agreement for five Rosie's Burgers in B.C. signed on March 27. The franchisee is developing numerous units across multiple Happy Belly brands. UBC students and visitors will now be able to grab a smash burger, poutine, onion rings or a quick milkshake at Rosie's, including as part of the student meal program. Happy Belly has 105 Rosie's Burgers units secured through area development agreements across Canada, including multiple locations under construction or already opened, with the pace of openings expected to increase through the year, according to Tuesday's news release. The company more than tripled revenue since adopting the Happy Belly Name, rising from C$2.73 million in 2022 to C$9.07 million in 2024, with gross profits growing by more than 4.5 times over the period, propelling the company into positive operating income in Q1 2025. Leadership insights 'Rosie's Burgers continues its organic growth with the increasing demand from franchisees and landlords alike. The organic growth that we are experiencing has been the driving force allowing us to expand our footprint in Canada,' Sean Black, chief executive officer of Happy Belly Food Group, said in a statement. 'This new location is in the heart of the University of British Columbia campus, a perfect location for a Rosie's due to its large, diverse and vibrant student population, which consistently seeks convenient, delicious, high-quality food options. With over 65,000 students and thousands of faculty and staff on campus, there is strong daily foot traffic which will provide steady demand for Rosie's. UBC's ongoing campus developments, residence expansions and active student life make it a high-potential, long-term location for one of our fastest-growing brands in the Happy Belly portfolio.' 'Through strategic site selection, in-depth operational training, targeted marketing and continuous business development support, we empower our franchise partners to succeed,' Black added. 'The commitment demonstrated by our experienced operators reflects their strong confidence in our systems, leadership and brand trajectory. We are excited to share updates on newly secured locations for our brands as we continue to grow as we progress in our mission to become a predictable and disciplined growth company, Canada's #1 restaurant consolidator.' About Happy Belly Food Group Happy Belly is the parent company of a growing number of food brands, including Rosie's Burgers, Holy Crap, Lumber Heads Food Co., Yolks, Lettuce Love Café, Pirho Fresh Greek Grill, Joey Turks Island Grill and Via Cibo. Happy Belly stock (CSE:HBFG) opened with a loss of 2.63 per cent trading at C$1.11. The stock has added 81.97 per cent year-over-year and 825 per cent since adopting the Happy Belly name in August 2022. Join the discussion: Find out what everybody's saying about this restaurant stock on the Happy Belly Food Group Inc. Bullboard and check out Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Yahoo
21-05-2025
- Business
- Yahoo
Happy Belly Food Group Announces 12th Consecutive Record Quarter, and First Quarter of Positive Net Income from Operations
Toronto, Ontario--(Newsfile Corp. - May 21, 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 its unaudited financial results and corporate update for the fiscal quarter ended March 31st, 2025. "In Q1 2025, Happy Belly Food Group marked its 12th consecutive record quarter of growth and reported its first quarter of positive net income from operations-signaling a pivotal cornerstone in our evolution. This achievement underscores our continued progress toward becoming Canada's premier acquirer and scaler of emerging food brands, while delivering meaningful value to our shareholders. We doubled our system sales, driving a 101% increase versus the same quarter last year. We successfully added 7 restaurant locations in Q1 through our continued focus on organic growth and accretive acquisitions," said Sean Black, Chief Executive Officer. "I would like to personally congratulate all brand leaders, franchisees, team members and cross functional teams for an amazing start to fiscal 2025. The team continues to execute on our aggressive growth and strategic plans, which is leading to yet another positive step forward and significant growth during Q1 2025. System sales reached $11M (+101%), and total revenues of $4M (+95%) both doubled versus the same quarter last year. Adjusted EBITDA increased 690%, while achieving positive cash flow before changes in non-cash working capital, and our first quarter positive net income from operations. Another key milestone achieved by Happy Belly Food Group," said Gary Fung, Chief Financial Officer. "Our core principles have been the 3P's: People, Product and Process, while staying operationally and financially disciplined throughout our execution plan. As at the end of Q1 2025, we have 50 operating restaurants, up 32 or 178% versus the same quarter last year. We continue to drive both organic and inorganic growth, through accretive acquisitions, improving sales and traffic, net restaurant openings, and overall profitability at restaurant level. Such positive tailwinds are already evident in Q2 2025, while we head towards the summer season. Exciting times ahead for our Company and we are only getting started!" "I am very proud of the continued momentum that we have achieved in the business and with our financial results; we doubled our system sales and achieved the first quarter of positive net income from operations. These strong results are a testament to the team-oriented culture we have built at Happy Belly. Our management team and brand partners are working together to support our franchisees as we accelerate national expansion. With a clear focus on growth throughout 2025-2026, we believe our best chapters are still to come," said Sean Black, Chief Executive Officer. We are just getting started. Q1 2025 Financial Highlights System wide sales across Quick Service Restaurants (QSR) totalled $10.76M in the first quarter of fiscal 2025, up 101% versus the same quarter last year (2024 - $5.36M). The increase is attributed to organic baseline restaurant growth, alongside increased restaurant count, which reached 50 operating restaurants at the end of Q1 2025, up 178% versus 18 in the prior year. Total restaurant count includes the one acquisition during Q1 2025 (Smile Tiger Coffee Roasters; closed January 27, 2025). Total operating revenues, vendor rebates and interest income totalled $3.67M in fiscal 2024, up 95% versus the same quarter last year (2024 - $1.88M). Year-over-year growth was driven by continued sales growth in both the QSR and Consumer Product Goods (CPG) segments, multiple business acquisitions in the past twelve months, and new net restaurants (6 openings and 1 acquisition during Q1 2025). Total product sales totalled $3.08M in the first quarter of 2025, up 101% versus the same quarter last year (2024 - $1.53M). In addition, royalties and franchise fee revenues reached $0.39M during the quarter, up 139% from the prior year (2024 - $0.16M), which was driven by an increase in royalties collected from 37 franchised restaurants in the system. Adjusted EBITDA[1] reached $0.23M or 6.4% in the first quarter of fiscal 2025, up 696% versus the same quarter last year (2024 - $0.03M or 1.5%). During the first quarter of fiscal 2025, net income from operations was net income positive $0.01M versus a loss of ($0.11M) in the prior year. Net working capital remains healthy at $3.74M as of March 31, 2025 (2024 - $0.80M). Total cash and cash equivalents were $3.60M as of March 31, 2025. One non-brokered private placement was completed on January 9, 2025 for $0.50M. Furthermore, cash flows before non-cash working capital was positive $0.10M in Q1 2025 versus negative ($0.09M) in the same quarter last year. Happy Belly Food Group Inc. continues to make accretive cash and equity investments during the first quarter of fiscal 2025 by acquiring Smile Tiger Coffee Roasters on January 27, 2025 (1 restaurant location in Kitchener Waterloo). Furthermore, in Q1 2025, investments were made to add headcount and infrastructure that will support the build and servicing of the new restaurant pipeline throughout 2025 and beyond. Such investments are aligned with the Company's direction for strategic growth and are already beginning to materialize in the first quarter of fiscal 2025.[1]See section definition of "Non-IFRS Measures and Ratios" within the Compliance with International Financial Reporting Standards ("IFRS") section of the MD&A. Furthermore, Happy Belly opened 6 new restaurants during Q1 2025. The Heal Lifestyle brand opened 4 new locations in Edmonton Alberta (University of Alberta), Calgary Alberta regions (2 restaurants) and Hamilton Ontario. Lettuce Love Cafe and Yolks Breakfast Inc. each opened 1 location in Hamilton and Ottawa Ontario respectively. Q1 2025 CORPORATE HIGHLIGHTS March 28th, 2025 - Happy Belly's Rosie's Burgers Announces the Signing of a Franchise Agreement for the City of Mississauga, Ontario March 27th, 2025 - Happy Belly's Rosie's Burgers Announces the Signing of a Multi Unit Franchise Agreement for 5 Stores in the Province of British Columbia March 21st, 2025 - Happy Belly Opens 50th Restaurant in Hamilton's Westdale Village Featuring Lettuce Love & Heal Wellness March 18th, 2025 - Happy Belly Expands CPG Availability with Lumber Heads Popcorn Now Available in 193 Loblaws Retail Locations March 17th, 2025 - Happy Belly's Heal Wellness QSR Announces Multi-Unit Franchisee is Now Open in Calgary's Aspen Landing, Alberta, Canada March 14th, 2025 - Happy Belly's Heal Wellness QSR Announces Multi-Unit Franchisee Opens Third Location in Toronto, Ontario March 13th, 2025 - Happy Belly's Heal Wellness QSR Announces Securing a Real-Estate Location for Windermere, in the City of Edmonton, Alberta March 12th, 2025 - Happy Belly's Heal Wellness Announces the Signing of their 49th Franchise Agreement to be Located in Brampton, Ontario March 10th, 2025 - Happy Belly's Smash Burger Brand Rosie's Burgers Announces the Signing of a Real Estate Location and Franchisee for University of Alberta in Edmonton March 6th, 2025 - Happy Belly Food Group's Heal Wellness QSR Signs 20 Unit Area Development Agreement in Atlantic Canada March 4th, 2025 - Happy Belly Food Group's Smash Burger Brand Rosie's Burgers Signs 10 Unit Area Development Agreement in Manitoba, Canada February 28th, 2025 - Happy Belly Food Group's Smash Burger Brand Rosie's Burgers Signs 15 Unit Area Development Agreement in Atlantic Canada February 27th, 2025 - Happy Belly's Heal Wellness Announces the Signing of a Franchise Agreement for Grand Bend, Ontario February 26th, 2025 - Happy Belly Food Group's iQ Food Co. QSR Signs 20-Unit Area Development Agreement in British Columbia February 24th, 2025 - Happy Belly's HEAL Wellness QSR Brand Enters 4th Province in Canada with Signing of a 10-Unit Area Development Agreement in The Province of Saskatchewan. February 21st, 2025 - Happy Belly's Yolk's Breakfast Announces the Opening of Its Newest Location in Canada's Capital, Ottawa, Ontario February 24th, 2025 - Happy Belly's Smile Tiger Coffee Roasters Signs 25-Unit Area Development Agreement in British Columbia February 11th, 2025 - Happy Belly Appoints David LeBlanc as Director of Design and Construction February 7th, 2025 - Happy Belly's HEAL Wellness QSR Announces the Opening of its Newest Location in the City of Calgary, Alberta February 6th, 2025 - Happy Belly's HEAL Wellness QSR Announces Securing a Franchisee and Real-Estate Location for Aurora, Ontario January 27th, 2025 - Happy Belly Closes 100% Acquisition of Smile Tiger Coffee Roasters Inc January 23rd, 2025 - Happy Belly's HEAL Wellness QSR Secures Real-Estate Location for Kingston, Ontario January 22nd, 2025 - Happy Belly's HEAL Wellness QSR Announces Toronto Multi-Unit Franchisee Signs Fourth Agreement January 17th, 2025 - Happy Belly Food Group Signs National Distributional Agreement with Sysco January 10th, 2025 - Happy Belly's HEAL Wellness QSR Announces the Grand Opening of its Newest Location at the University of Alberta January 9th, 2025 - Happy Belly Closes 6th Consecutive Above-Market Non-Brokered Financing January 8th, 2025 - Happy Belly Signs Definitive Agreement to Acquire 100% of Smile Tiger Coffee Roasters Inc January 7th, 2025 - Happy Belly Appoints Former Fat Burger Vice President John Grieve as Regional Vice President of Operations, Western Canada SUBSEQUENT EVENTSMay 16, 2025 - Happy Belly Food Group's Heal Wellness QSR Announces the Opening of its Newest Location in Grand Bend, OntarioMay 13, 2025 - Happy Belly Food Group's Heal Wellness QSR Announces the Signing of their 50th Franchise Agreement to be in the City of Grand Prairie, Alberta May 6 2025 - Happy Belly Food Group Exercises Right to Acquire Remaining 50% of Heal Wellness QSRApril 30, 2025 - Happy Belly Food Group Announces 11th Consecutive Record Quarter, and First Fiscal Year of Positive Adjusted EBITDAApril 25, 2025 - Happy Belly Food Group's Heal Wellness QSR Announces Opening in Downtown Calgary's Historic Alberta BlockApril 24, 2025 - Happy Belly Food Group's Yolks Breakfast Signs 10 Unit Area Development Agreement in Atlantic CanadaApril 23, 2025 - Happy Belly's Yolks Breakfast Announces Entry to Quebec Market with Signing of First Real-Estate LocationApril 17, 2025 - Happy Belly Food Group's Via Cibo Italian Restaurant Opens Its Newest Location Located in Barrhaven, in the City of Ottawa, OntarioApril 16, 2025 - Happy Belly Food Group Promotes Randall Papineau to President of Emerging BrandsApril 14th, 2025 - Happy Belly's Yolks Breakfast Signs Franchise Agreement and Real-Estate Location in the City of Tsawwassen, British Columbia April 11th, 2025 - Happy Belly's Smash Burger Brand Rosie's Burgers Announces the Opening of its Newest Location in Toronto, Ontario April 8th, 2025 - Happy Belly's Yolks Breakfast Signs Franchise Agreement for the City of Richmond Hill, Ontario April 7th, 2025 - Happy Belly Promotes John Delutis to Chief Restaurant Officer April 4th, 2025 - Happy Belly Selects TOAST to Power Growing Restaurant Portfolio FOOTNOTES: Adjusted EBITDA Is a non-IFRS financial measure which does not have a standardised meaning prescribed by IFRS. Adjusted EBITDA and Adjusted EBITDA Margin are used by management as supplemental measures to review and assess operating performance and to provide a more complete understanding of factors and trends impacting the Company's business. Management believes Adjusted EBITDA are useful measures of operating performance and the Company's ability to generate cash-based earnings, as they provide a more relevant position of operating results by excluding the effects of financing and investing activities, which removes the effects of interest, depreciation and amortization expenses as well as other expenses, as described, that are not reflective of the Company's underlying business. This non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with EBITDA is defined as net comprehensive income or (loss), excluding interest, taxes, depreciation and amortization (EBITDA), adjusted for share-based compensation, gain (loss) on equity investments and sublease, expected credit loss and non-recurring expenses. About Happy Belly Food GroupHappy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leader in acquiring and scaling emerging food brands across Canada. Happy Belly 1 To view an enhanced version of this graphic, please visit: Sean BlackChief Executive Officer Shawn MonizChief Operating Officer FOR FURTHER INFORMATION, PLEASE VISIT: www: or email hello@ you wish to contact us please call: 1-877-589-8805 Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management. Cautionary Note Regarding Forward-Looking Statements All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
24-02-2025
- Business
- Yahoo
Happy Belly's HEAL Wellness QSR Brand Enters 4th Province in Canada with Signing of a 10-Unit Area Development Agreement in The Province of Saskatchewan.
Toronto, Ontario--(Newsfile Corp. - February 24, 2025) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging food brands is happy to announce that, as of February 23rd, 2025 it has signed an area development agreement for the province of Saskatchewan to open 10 new franchised locations of Heal Wellness ("Heal"), a fresh smoothie bowls, acai bowls, and smoothies quick serve restaurant ("QSR"). HEAL Wellness 1 To view an enhanced version of this graphic, please visit: "The Health and Wellness sector is one of the most dynamic and rapidly expanding areas in the QSR industry, and today's announcement is a statement of Happy Belly's commitment to our growth plans for Heal across North America. Our ultimate goal is to establish this brand as a category leader in North America so we are well on our way. With Saskatchewan now becoming the fourth province to sign an Area Development agreement for Heal Wellness, our brand's total units with Area Developers and franchisees have reached 110, with several already open, under construction, or secured through franchise agreements and we plan on further accelerating our committed expansion plans in 2025." said Sean Black, Chief Executive Officer of Happy Belly. HEAL Wellness 2 To view an enhanced version of this graphic, please visit: "We remain dedicated to delivering shareholder value through a disciplined approach to both organic and inorganic growth that has never been experienced before by any QSR consolidatory in Canada. By leveraging our franchising expertise and strategic roadmap, we are quickly positioning Heal as Canada's leading national smoothie and acai bowl chain. Our Area Developer, Mr. Stephen Travers, is one of the best professionals I've ever worked with and an expert in brand development across Central and Western Canada. We worked together at Extreme Brandz, MTY Group, Crave It Restaurant Group and so far at Happy Belly Food Group we are loving working together again. This achievement marks a significant milestone for both Heal and the Happy Belly team as we accelerate our growth plans across North America. Stephen's proven expertise is a vital component of our success, enabling Happy Belly to sustain its rapid franchise expansion." HEAL Wellness 3 To view an enhanced version of this graphic, please visit: "We currently have 456 contractually committed retail franchise locations from area developers across all emerging brands in the Happy Belly Food Group portfolio including those in development, under construction or already open. We are working to actively expand this pipeline significantly in 2025 & 2026 with our disciplined approach to growth. It is key for us to continue selecting the right franchise partners along with the right real estate in order to achieve our development goals for the brands."We are just getting startedArea DeveloperWe have signed with experienced Stephen Travers as our Area Developer in Saskatchewan. Stephen was the 1st Extreme Pita Franchisee ever, and later the 1st ever Area-Developer for Extreme Pita, Mucho Burrito and Via Cibo. He has over 22 years of QSR experience and an impressive track record of developing brands quickly in Western Canada. Stephen has developed over 165 QSR restaurants and has delivered for us time and time again as we built our previous franchising inquiries please see or contact us at hello@ Happy Belly Food GroupHappy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leading consolidator of emerging food brands. Happy Belly Food Group To view an enhanced version of this graphic, please visit: Sean BlackChief Executive Officer Shawn MonizChief Operating Officer FOR FURTHER INFORMATION, PLEASE VISIT:www: or email hello@ you wish to contact us please call: (604) 737-2303 Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management. Cautionary Note Regarding Forward-Looking Statements All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-Looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include the future performance of Happy Belly and her subsidiaries. Forward-Looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for Happy Belly described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
17-02-2025
- Business
- Yahoo
Happy Belly Food Group to open 25 Smile Tiger Coffee Roasters stores in BC
Happy Belly Food Group, a Canadian quick-service restaurant (QSR) franchise company, has signed an area development agreement with plans to establish 25 new franchised Smile Tiger Coffee Roasters outlets in Canada's British Columbia (BC). Happy Belly acquired the speciality coffee roaster in January 2025 and plans to leverage its existing QSR platform to enhance Smile Tiger's presence across Canada. Smile Tiger was established in 2015 and currently runs a roastery and a single retail outlet in Kitchener, Ontario, reported World Coffee Portal. Following the acquisition, Happy Belly outlined a strategy to scale the business and distribute its coffee across its QSR network, aiming to double earnings before interest, taxes, depreciation, and amortisation (EBITDA) within two years. Happy Belly chief executive officer Sean Black said: 'As we continue to focus on asset-light growth, it made so much sense to partner with Scott Grandin who is easily one of the top Area Developers in Canada's QSR industry. 'We are committed to creating shareholder value across our portfolio with our disciplined approach to organic and inorganic growth as we are just getting started in the quick-service beverage industry. Acquiring cash-flow-positive brands that are debt-free and demonstrate positive same-store sales like Smile Tiger aligns with our low-risk strategy for delivering consistent returns.' The company, with 446 contractually committed retail franchise locations across its emerging brands, is actively seeking to expand this pipeline in 2025 and 2026. Black stated that a "disciplined approach" to growth is central to the company's strategy, focusing on selecting suitable franchise partners and prime real estate to meet development goals. The company claims to acquire high-potential assets at reasonable prices and rapidly enhance their EBITDA. This track record includes successful expansions of brands such as Heal Wellness, Via Cibo, Rosie's Burgers, and Yolks Breakfast. In September 2024, Happy Belly Food Group completed its acquisition of the Canadian QSR brand IQ Foods, along with its four prime locations in downtown Toronto. "Happy Belly Food Group to open 25 Smile Tiger Coffee Roasters stores in BC" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
