VGANF - Happy Belly Food Group Closes Acquisition of Smash Burger Brand Rosie's Burgers
Toronto, Ontario--(Newsfile Corp. - November 14, 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 it has closed on the acquisition of Smash Burger Brand Rosie's Burgers.
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As of November 13th, all closing matters have been addressed and completed to acquire Rosie's Burgers ("Rosies"), a boutique QSR restaurant brand serving original recipe smash burgers, poutine, onion rings, milkshakes and more.
"We are very pleased to officially welcome Rosie's Burgers to our portfolio of emerging food brands. The burger category is one that our team has deep knowledge and unfinished business in as we previously helped build The Burgers Priest into a leading brand in Canada. With the closing of Rosie's, we immediately anticipate organic growth through our nationwide franchising program in our asset-light model. We look forward to working with Rosie's founders and their team as we rapidly expand our real estate footprint nationwide," said Sean Black, Chief Investment Officer of Happy Belly.
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"We look forward to working with our new partners and make Rosie's into a nationally recognized smash burger chain. Net new franchised locations are already being sourced through an aggressive Canada-wide franchising program. Sourcing of suitable new locations is currently underway. This transaction is aligned with our strategic plan and goals of delivering shareholder value through accretive M&A. Post closing of this accretive transaction we anticipate immediate organic growth from Rosies's Burgers through the existing two (2) locations."
For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at hello@happybellyfg.com.
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
Shawn Moniz
Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE VISIT:
www: www.happybellyfg.com or email hello@happybellyfg.com
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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 LumberHeads Food Co. 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.
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