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GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0%
M&A / Property

Happy Belly Food Group Signs Definitive Agreement for the Sale of Holy Crap Foods as It Focuses on Accelerating Its QSR Businesses

By The Northwire Desk — AI Analysis Feb 12, 2026 · 06:21 HBFG · 1.71 Happy Belly Food Group Inc.
HBFG · Price

Executive Summary

  • Happy Belly Food Group executed a definitive agreement to sell its Holy Crap Foods brand for CAD 1,000,000 cash (plus working‑capital adjustments), with closing expected within ten business days.
  • Proceeds are earmarked to fund expansion of the company’s quick‑service restaurant (QSR) portfolio, which management cites as higher‑margin and higher‑ROIC.
  • The transaction represents an estimated 10× EBITDA for Holy Crap Foods, reflecting a successful turnaround from prior losses.

Key Details

  • Transaction: Sale of Holy Crap Foods (cereal & oatmeal brand).
  • Consideration: CAD 1,000,000 cash plus customary working‑capital adjustments.
  • Closing Timeline: Expected within 10 business days, subject to standard closing conditions.
  • Strategic Rationale: Redeploy non‑dilutive cash into higher‑margin QSR brands (e.g., Rosie's Burgers, Heal Wellness, Via Cibo, iQ Food Co., Yolks Breakfast).
  • Financial Impact: Provides additional flexibility for pipeline openings and franchise development; management highlights 10× EBITDA valuation relative to prior performance.
  • CEO Quote: “The $1 million of non‑dilutive cash provides additional flexibility to support our pipeline of openings and franchise development… We remain disciplined in how we deploy capital, with a clear focus on ROIC.” – Sean Black, CEO.

Notable Quotes

“Holy Crap Foods has been an important part of our story, and this divestiture allows us to unlock value created by our team and redeploy proceeds into our QSR portfolio where we experience higher margins and higher ROIC.” – Sean Black, Chief Executive Officer
“When I joined Happy Belly the Holy Crap business was losing money… today the sale price represents an estimated 10x EBITDA for the business.” – Sean Black, CEO

Materiality Assessment: Material – Positive (significant cash inflow and strategic redeployment that could materially affect future earnings and growth trajectory).

Read the original news release →

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