Toronto, Ontario--(Newsfile Corp. - December 5, 2024) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging food brands, is excited to announce the signing of its thirteenth (13th) franchise for Yolks Breakfast ("Yolks"), a boutique restaurant brand serving delicious breakfast, brunch and lunch. The franchisee has signed for a location in the Greater Vancouver Area, joining the existing 3 Yolks locations in British Columbia.
"This marks our tenth (10th) new franchise agreement for Yolks since our acquisition just eleven (11) short months ago, bringing the Yolks brand signed franchise total to thirteen (13). Continuing to expand our presence in our current market of British Columbia is an important component to building on our market leading position," said Sean Black, Chief Executive Officer of Happy Belly. "Organic growth for Yolks is happening at the store level and for new units across Canada. With franchise agreements now in place in British Columbia, Alberta, Ontario, and Quebec, and 51-units contractually committed with area developers for Yolks, we show no signs of slowing down."
"As the breakfast category remains one of the hottest and fastest-growing sectors in the restaurant industry, we are maintaining our momentum and aggressive approach. Our asset-light strategy continues to attract significant interest and inquiries from potential franchisees. As progress unfolds, we look forward to sharing details about our initial real estate locations. Our overarching strategy has consistently focused on developing and growing emerging brands within the food sector. With the continued rollout of our franchising initiative, we anticipate these new locations will significantly contribute to the company's revenue and profitability."
"The consistent growth of our brands across Canada underscores the strength of our franchising program. Franchisees gain from comprehensive training, continuous mentorship, and a range of resources that help streamline operations and foster success. By mitigating the typical risks of entrepreneurship and offering a clear path to profitability, our program continues to attract a strong wave of motivated investors. As our Happy Belly franchise program draws more franchisees to our brands, we're able to accelerate organic growth."
"As we move forward, our 2025 pipeline of new stores continues to expand with franchise agreements and lease signings progressing across North America. 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. By focusing on securing high-quality franchisees and prime real estate locations across Canada, we will further strengthen our expansion efforts."
Chef Steve Ewing is a strong proponent of breakfast - it's his favourite meal of the day - which is why its so important to him and why he takes so much care and puts so much effort into its menu. Not only are the eggs free-range, but the bacon is local and the hollandaise isn't some quickie version, but the real deal, just one fast whisking away from le Cordon Bleu. Even the Dijon is made in-house!
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.
