Happy Belly Food Group's Heal Wellness Signs Largest Multi-Unit Franchise Agreement to date for 45 Locations Led by Alex Rechichi and Bedford Park Capital

Executive Summary

• Happy Belly Food Group announced a multi-unit franchise development agreement for 45 Heal Wellness locations across Ontario, Saskatchewan, and Manitoba over a three-year progressive rollout.
• The expansion is fully funded by Bedford Park Capital and led by a franchisee group comprising Alex Rechichi, David Lamph, Randall Papineau, and Heal Co-Founder Jesse Davidson.
• In connection with the deal, Alex Rechichi is stepping down from the Board to lead the franchisee group full-time, Sean Black is appointed Chairman of the Board, and Randall Papineau transitions to Executive Advisor of Brand Development & Growth.

Key Details

• Agreement Type: Multi-unit franchise development agreement for Heal Wellness (a quick-service restaurant brand specializing in fresh smoothie and açaí bowls).
• Location Commitment: 45 opened and operating locations across Ontario, Saskatchewan, and Manitoba.
• Timeline: Progressive rollout over the next three years.
• Funding Structure: Entirely funded by Bedford Park Capital, a Toronto-based investment firm.
• Key Partners & Leadership: Deal led by Alex Rechichi, David Lamph, Randall Papineau, and Jesse Davidson, with advisory and capital support from Simon Akit, Jordan Zinberg, and Todd Zeligman.
• Board & Management Changes:
• Alex Rechichi resigns from the Board of Directors to lead the franchisee group on a full-time basis.
• Sean Black appointed Chairman of the Board, effective immediately.
• Randall Papineau transitions from Chief Restaurant Officer to Executive Advisor of Brand Development & Growth to support the new franchisee group.
• Portfolio Context: Heal currently has 42 locations open with 166+ in development. Happy Belly's broader portfolio includes 686 contractually committed retail franchise locations across multiple emerging brands.
• Strategic Impact: Accelerates Heal's entry into Manitoba and Saskatchewan, strengthens market share, and positions the brand as Canada's leading açaí bowl franchise.

Notable Quotes

• Sean Black, CEO: "This is the largest multi-unit development deal I have ever done in my career... This agreement significantly accelerates our entry into these new markets."
• Alex Rechichi: "I am stepping down from the Board of Happy Belly Food Group to lead this franchisee group on a full-time basis and execute the 45-unit growth plan successfully... I remain a significant and supportive shareholder of Happy Belly Food Group and am fully committed to the Company's continued growth across Canada."