Toronto, Ontario--(Newsfile Corp. - December 20, 2024) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging food brands is pleased to announce that it has secured a real-estate location for its smash burger brand Rosie's Burgers ("Rosies") located at 1542 Avenue Road, Toronto, Ontario. Rosie's Burgers is a boutique quick serve restaurant ("QSR") brand serving original recipe smash burgers, poutine, onion rings, milkshakes and more.
"The Rosie's brand continues to expand across Canada, and today's announcement highlights our ability to secure AAA locations for our emerging brands," said Sean Black, Chief Executive Officer of Happy Belly. "With multiple locations now in construction and more on the way for 2025 we are about to realize significant growth thanks to our ability to open corporate stores as well as franchise locations in parallel paths. This location will be opened and operated corporately which is the second planned corporate Rosie's location for 2025 along side our recently secured Shops of Don Mills location as we look to reinvest the free cash-flow back into the brand to deliver accelerated growth.
"When we acquired Rosie's less than a year ago, the brand was operating just two locations in the GTA and had no franchising program in place. Today, Rosie's has grown to four operational locations across two provinces, with an additional 12 locations either corporate-owned, assigned to franchisees, or under construction. This remarkable growth trajectory demonstrates the strength of the brand, and we have no plans of slowing down."
Ideally situated in North Toronto's affluent Avenue & Lawrence neighborhood, this location is set to open in Q2 2025. It is expected to expand Rosie's customer base in a densely populated area that aligns with the brand's target demographics, offering significant opportunities both in-store and through delivery. Toronto's impressive growth and support for homegrown businesses make it an ideal market for expanding our brands. With its thriving food culture and vibrant dining scene, the city's growing population and enthusiasm for emerging food brands create strong demand for Rosie's delicious burger offerings.
"Our overarching strategy has always been to focus on the development and growth of emerging brands within the food sector. Anticipating the continued rollout of our franchising initiative, we expect new locations to contribute to the company's overall revenue and profitability.
"We currently have 421 contractually committed retail locations from area developers across all emerging brands in the Happy Belly Portfolio - whether in development, under construction, or already open. As we open new stores, the Happy Belly footprint continues to grow. Our team is committed to sourcing and evaluating real estate, reviewing franchisee applications, and collaborating closely with area developers to support our asset-light franchising model. At present, several of our restaurant brands are simultaneously under construction, and we are excited to announce openings throughout 2024-2025. By focusing on securing high-quality franchisees and prime real estate locations across Canada, we will further strengthen our expansion efforts."
Deliciously handcrafted smashed burgers, golden fries, and classic milkshakes. Rosie's is your neighbourhood burger shop serving up nostalgic flavours you know, love, and crave. From our Smashburger's and French fries to strawberry shakes and onion rings - we're all about keeping things simple and perfecting tradition. Because the classics were made classic for a reason, right?
About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leading consolidator of emerging food brands.
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.
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 www.sedarplus.ca.
