Happy Belly Signs Binding Agreement to Acquire 50% of SALUS Fresh Foods QSR Restaurant Chain
Happy Belly Signs Binding Agreement to Acquire 50% of SALUS Fresh Foods QSR Restaurant Chain
Toronto, Ontario--(Newsfile Corp. - July 29, 2024) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging food brands is pleased to announce it has signed as of July 26th, 2024, a binding LOI agreement to acquire 50% of SALUS Fresh Foods and SALUS Fresh Foods Franchising Inc ("SALUS"), serving fresh bowls, sandwiches, wraps, soups, smoothies and healthy treats the whole family can enjoy.
安大略省多倫多--(Newsfile Corp. - 2024年7月29日) - Happy Belly Food Group Inc.(CSE:HBFG)(OTCQB:HBFGF)(“Happy Belly”或“公司”),新興食品品牌的領先整合商,很高興宣佈,截至2024年7月26日,已簽署具有約束力的意向書協議,以收購SALUS Fresh Foods和SALUS Fresh Foods Franchising Inc(“SALUS”)的50%股權,其提供的是全家人可以享用的新鮮碗、三明治、捲餅、湯、冰沙和健康小吃。
Happy Belly begins the back half of 2024 with the signing of its third (3rd) acquisition this year. This marks another stride forward in our journey to becoming a leading consolidator of emerging food brands. This acquisition represents the incorporation of our eighth (8th) restaurant brand, and our tenth (10th) brand overall.
SALUS Fresh Foods, an asset light 100% franchised system, has nine (9) established street-front and food court real estate locations in Ontario. "When looking for an acquisition we look for the 3 P's: People, Product and Process. With co-founders Adam and David Spagnuolo of SALUS Fresh Foods, we found exactly that," said Sean Black, Chief Investment Officer of Happy Belly.
"In addition to meeting our criteria for people, product, and process, this acquisition aligns perfectly with the financial metrics and belly check criteria Happy Belly looks for in an acquisition, being debt free and cashflow positive. Once closed, this transaction, as part of our accelerated M&A program, will bring our current total operating count of corporate and franchised restaurants to thirty-eight (38) while having an additional 376 units in our development pipeline still to come. This is another significant achievement since launching our franchising program 16 months ago. It demonstrates our commitment to our shareholders and our executional excellence as we drive disciplined company growth to enhance shareholder value through strategic and accretive M&A."
Happy Belly開始了2024年下半年的工作,簽署了今年第三項收購協議。這標誌着我們成爲新興食品品牌行業的重要整合者又邁進了一步。這次收購將整合我們的第八個餐廳品牌,和第十個品牌。
SALUS Fresh Foods是一個100%特許經營的輕資產系統,在安大略省擁有九(9)個已建立的街頭和美食廣場的房地產位置。Happy Belly的首席投資官Sean Black表示:“在尋找收購時,我們尋找3個P:人、產品和流程。通過與SALUS Fresh Foods的聯合創始人亞當和大衛·斯帕納羅洛的合作,我們找到了這個,”
“除了符合我們的人、產品和流程標準外,這個收購在財務指標和財務狀況上與Happy Belly的收購標準完全吻合,沒有債務並且現金流量爲正。一旦完成,作爲我們的加速M&A計劃的一部分,此交易將使我們當前的公司和特許經營餐廳總數達到38家,同時在發展管線中仍有額外的376個單位即將到來。這是自16個月前推出特許經營計劃以來又一個重要的成就。它展示了我們對股東的承諾和我們的執行卓越,因爲我們通過戰略性和有收益的M&A推動有紀律的公司增長,增強股東價值。”
"This accretive acquisition checks a lot of boxes for Happy Belly, and enhances our ability to scale and integrate future healthy, clean food brands into our framework as we focus on scaling operations in 2024. SALUS Fresh Foods is experiencing a positive +19% increase in same store sales (SSS) YOY, and we anticipate further sales benefits as employees return to work in central business districts. Today SALUS only has locations in Ontario, so we look forward to helping SALUS expand beyond the border of Ontario across Canada very shortly. There are meaningful synergies that both SALUS and Happy Belly will immediately benefit from including integration into established operational frameworks such as real estate, franchising, accounting, insurance, purchasing, supplier contracts, rebate systems, shared resources and marketing staff for increased labour and productivity efficiencies, and more. Our approach has always been to focus on the development and growth of emerging brands in the food sector."
“這個增值收購爲Happy Belly打了很多勾,增強了我們在2024年關注健康、清潔食品品牌擴大規模的能力。SALUS Fresh Foods的同店銷售額(SSS)年增長率爲正面+19%,隨着員工重返中央商務區上班,我們預計將獲得進一步的銷售收益。今天,SALUS只在安大略省擁有門店,因此我們期待幫助SALUS很快擴展到安大略省以外的加拿大。這其中有很多有意義的協同效應,SALUS和Happy Belly將立即受益,包括整合到已經建立的操作框架中,例如房地產、特許經營、會計、保險、採購、供應商合同、回扣系統、共享資源和營銷人員,以增加勞動力和生產力效率等等。我們的方法始終是專注於發展和成長新興品牌在食品行業。”
Acquisition Details
Happy Belly and SALUS Fresh Foods have signed a binding LOI agreement for the 50% acquisition of SALUS Fresh Foods by Happy Belly.
收購細節
Happy Belly和SALUS Fresh Foods已簽署具有約束力的意向書協議,以使Happy Belly收購SALUS Fresh Foods的50%股權。
Happy Belly will issue such number of common shares of Happy Belly equal in value to $300,000 (based on a 10-day VWAP) at time of closing for 50% ownership of SALUS Fresh Foods, representing an estimated purchase price of 4x EBITDA. The Company anticipates the closing of this agreement to take place within the next 30-90 days. Happy Belly has also obtained the rights to acquire the remaining 50% of the business at its optionality.
Happy Belly將在交易完成時發行與300,000美元相當價值的Happy Belly普通股的數量,以獲得SALUS Fresh Foods 50%股權,預計購買價格爲EBITDA的4倍。公司預計該協議的完成將在接下來的30-90天內發生。Happy Belly還已獲得獲得其選擇權以收購該業務剩餘50%的權利。
For franchising inquiries please see or contact us at hello@happybellyfg.com.
About SALUS Fresh Foods
Fresh, Healthy, Made from Scratch, Delicious. Everyday our team is slicing, dicing, roasting, marinating, saucing, and having fun while ensuring that every meal is fresh, simple, and delicious. Salus locations are ideally selected in the heart of large urban areas fed by mass transit, with access to busy professionals, students, and families who are in need of a quick and healthy meal.
如有特許經營諮詢,請瀏覽http://happybellyfg.com/franchising 或通過hello@happybellyfg.com與我們聯繫。
關於SALUS Fresh Foods
Salus以新鮮的、健康的、自制的美食爲特色,每天我們的團隊都在切片,切塊,烤制,醃製,調味,同時確保每一道菜都是新鮮、簡單、美味。Salus的店址選在大城市的心臟區,由大量公共交通運輸服務,方便繁忙的專業人士、學生和家庭,他們需要快速健康的餐點。
About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company") is a leading consolidator of emerging food brands.
關於Happy Belly Food Group
Happy Belly Food Group Inc.(CSE:HBFG)(OTCQB:HBFGF)(以下簡稱“Happy Belly”或“公司”)是新興食品品牌的領先整合者。
Happy Belly Food Group
Shawn Moniz
Founder, Chief Executive Officer
Happy Belly Food Group
Shawn Moniz
創始人,首席執行官
FOR FURTHER INFORMATION, PLEASE VISIT:
更多信息,請訪問:
www: or email hello@happybellyfg.com
If you wish to contact us please call: (604) 737-2303
網址: 或者發送郵件至hello@happybellyfg.com
如果您希望與我們聯繫,請撥打電話:(604) 737-2303
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
加拿大證券交易所及其監管服務提供商(按照加拿大證券交易所政策的定義)均不對本新聞稿的充分性或準確性負責,該新聞稿由管理層編制。
Cautionary Note Regarding Forward-Looking Statements
關於前瞻性聲明的謹慎說明
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 Happy Belly and her subsidiaries. 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 .
本新聞稿中的所有陳述,除歷史事實陳述外,均爲本公司有關的“前瞻性信息”,意思是指與適用證券法規相關的此類公司的未來表現。前瞻性信息經常以“計劃”、“期望”、“項目”、“打算”、“相信”、“預計”等類似詞語或者表示某些事件或情況“可能”或“將要”發生的陳述爲其特徵,包括Happy Belly及其子公司的未來業績。前瞻性陳述基於陳述發佈日的意見和估計,並受到各種風險、不確定性和其他因素的影響,這些因素可能導致實際事件或結果與前瞻性陳述中預期的事件或結果有所不同。前瞻性信息存在不確定性,包括公司無法控制的因素。不能保證Happy Belly在本新聞稿中描述的商業計劃將按照本文所述的條款或時間框架生效。公司除法律要求外,不承擔更新前瞻性信息的義務。讀者被警告不要過度依賴前瞻性陳述。有關公司、業務和事務面臨的風險和不確定性的描述,讀者應參考該公司的管理層討論和分析以及其他披露文件,這些文件已發佈在加拿大證券監管機構的網站上。