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M&A / Property

Happy Belly Food Group Announces New Franchise Agreement Signed for Heal Wellness in Barrie, Ontario

By The Northwire Desk — AI Analysis Oct 10, 2025 · 06:01 HBFG · 1.46 Happy Belly Food Group Inc.
HBFG · Price

Executive Summary

  • Happy Belly Food Group announced the signing of a new franchise agreement for Heal Wellness in Barrie, Ontario – its second such deal this week.
  • The company closed the acquisition of the remaining 50% ownership interest in Heal Lifestyle Inc., making Heal Wellness and its JVCo wholly owned subsidiaries.
  • The transaction was completed for an aggregate purchase price of $3,896,948 CAD, paid via a share swap (2,777,777 existing HBFG shares) plus issuance of 613,469 treasury HBFG shares subject to resale restrictions.

Key Details

  • Franchise Agreement:
  • New Heal Wellness location in Barrie, Ontario – targeting students, young professionals, and families.

  • Adds to Happy Belly’s portfolio of 27 open Heal locations with over 168 in development.

  • Acquisition Closing (Heal Wellness Transaction):

  • Acquired the remaining 50% equity of Heal Lifestyle Inc. (“Heal Wellness”).
  • Purchased 200 common shares of 1000193142 Ontario Inc. (JVCo) from vendors for $3,896,948 CAD.
  • Consideration comprised:
    • Transfer of 2,777,777 existing HBFG common shares held by JVCo to the vendors.
    • Issuance of 613,469 treasury HBFG shares to the vendors (restricted from resale for 4 months + 1 day).

  • Post‑closing, both JVCo and the Heal operating entity are now wholly owned subsidiaries of Happy Belly.

  • Operational Footprint:

  • Happy Belly now has 626 contractually committed retail franchise locations across its brand portfolio (including Heal Wellness, Rosie's Burgers, Yolks Breakfast, Via Cibo Italian Street Food, etc.).

  • Growth Outlook:

  • CEO Sean Black highlighted Barrie’s “exceptional market” and the company’s “asset‑light, scalable business model.”
  • The franchise signing underscores continued coast‑to‑coast expansion and reinforces Happy Belly’s growth strategy.

Notable Quotes

“Barrie represents an exceptional market for Heal Wellness… The signing of this new franchise agreement further demonstrates the strength of our scalable, asset‑light business model…” – Sean Black, CEO, Happy Belly Food Group

“We are just getting started.” – Sean Black, CEO, Happy Belly Food Group

Read the original news release →

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