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Happy Belly (CSE:HBFG) signs development agreement for Lettuce Love Restaurants in Ontario

Jonathon Brown Jonathon Brown, The Market Online
0 Comments| March 9, 2023

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  • Happy Belly Food Group (HBFG) signed a development agreement in Ontario to open 20 franchised restaurants of Lettuce Love Café
  • A wholly owned subsidiary of Happy Belly Food Group, Lettuce Love Café is the first of many brands within its portfolio to be offered for franchising in 2023
  • Happy Belly Food Group is a consolidator of emerging food brands, responsible for Yam Chops, Lumber Heads, Heal Wellness, Holy Crap, Ladyt Glaze Doughnuts and more
  • Happy Belly Food Group (HBFG) was trading at C$0.1209 per share at 09:50 am ET

Happy Belly Food Group (HBFG) signed a development agreement to open 20 franchised restaurants of Lettuce Love Café in Ontario.

A wholly owned subsidiary of Happy Belly Food Group, Lettuce Love Café is the first of many brands within its portfolio planned to be offered for franchising in 2023.

Sean Black, Chief Investment Officer of Happy Belly, explained that Lettuce Love Café has all the elements of a growing brand that is now ready for franchising in an asset-light model for the whole company, the same model the team operated with Mucho Burrito, Extreme Pita, and Pur Blendz.

“To help launch Happy Belly’s franchising program, we brought in an area developer that we worked with previously on multiple brands to establish over 25 franchise locations across Ontario. I am very pleased to announce Scott Grandin as our Area Developer for Lettuce Love here in Ontario. Scott brings another key element to our team that will enable Happy Belly to accelerate unit growth. It is a lot of fun putting the band back together as we maximize the value of our assets with both organic and inorganic growth.”

Area Developer Scott Grandin added that when they spoke about franchising opportunities within Happy Belly’s portfolio, the opportunity to get in early was very appealing.

“I have a long and successful working relationship with Sean and the board members of Happy Belly, so I could not be happier that they are bringing the team back together to build yet another successful restaurant and franchising company. I see very strong demand from consumers and franchisees in the QSR plant-based sector, so the timing was perfect to join an emerging brand like Lettuce Love in a sector that is emerging,”

Happy Belly Food Group is a consolidator of emerging food brands, responsible for Yam Chops, Lumber Heads, Heal Wellness, Holy Crap, Ladyt Glaze Doughnuts and more.

Happy Belly Food Group (HBFG) was trading at C$0.1209 per share at 09:50 am ET.




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