Happy Belly Food Group Inc (OTCMKTS:VGANF) Reaches Definitive Franchise Acquisition Agreement with PIRHO Food Grill | News Direct

Happy Belly Food Group Inc (OTCMKTS:VGANF) Reaches Definitive Franchise Acquisition Agreement with PIRHO Food Grill

News release by TopNewsGuide - Market News & Commentary

facebook icon linkedin icon twitter icon pinterest icon email icon Naples, FL | March 21, 2023 05:30 PM Eastern Daylight Time

 

There are very few industries that are growing at such a rate as the health and wellness industry and investors are now increasingly looking for options in that space. There are a large number of companies that one could track and one of those could well be Happy Belly Food Group Inc (OTCMKTS:VGANF). The company is involved in providing plant-based products to the Canadian market.

The company is well-known for offering breakfast cereals and other forms of food products under the Holy Crap and Yamchop brands. In the past, it had been known as the Plant & Co Brands Ltd but in September last year, it had changed its name to Happy Belly Food Group. The company had been incorporated back in 2014 and is based out of Vancouver in Canada.

The company has been working on partnerships for the purpose of further expanding its business into new areas and last week on March 17 it made such an announcement. The emerging food brands aggregating company announced that it had signed a definitive franchise acquisition agreement with the firm PIRHO Food Grill. PIRHO offers gourmet wraps, bowls, and pitas and is fashioned as a casual Greek fast-food chain. It mainly offers Greek and Mediterranean food.

The Chief Investment Officer of Happy Belly Food Group, Sean Black spoke about the latest deal that had been signed by the company. He noted that everyone at the company was pleased to have welcomed PIRHO Food Grill into the portfolio of emerging brands at Happy Belly Food Group. The announcement came close on the heels of the franchising deal that had been signed by the company with Lettuce Love on March 9. Lettuce Love is a plant-based QSR.

Black went on to add that one of the most important aspects of the particular deal was the fact that the agreement between the two parties was going to launch a business model that was going to be light on assets. He added that Happy Belly Food Group was looking forward to working with PIRHO and its founder George Plagakis on speeding up the franchise development. They would also be working on speeding up the real estate growth of the brand but that growth was already underway prior to the signing of the agreement.

In this context, it may be a good idea to take a better look at the signing of the area development agreement that had been signed by the company with Lettuce Love. The agreement was related to the opening of as many as 20 franchised Lettuce Love Café restaurants in the province of Ontario.

Lettuce Love Café is going to operate as a fully owned subsidiary unit of Happy Belly Food Group. Black noted at the time that Lettuce Love had all the attributes of a high-growth brand and was in the right moment to embark on an asset-light franchise model for expansion. The company is looking to set up more than 25 franchise locations in the province of Ontario.

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