Happy Belly's Via Cibo Announces the Signing of a Franchise Agreement for Barrhaven, in the City of Ottawa, Ontario
Rhea-AI Summary
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) has announced the signing of a franchise agreement for its Via Cibo brand in Barrhaven, Ottawa. This marks the second Via Cibo location in Ottawa and the second franchise agreement in a week. The franchisee, who already operates a successful Via Cibo in Kanata, is expanding to Barrhaven due to its growing population and diverse community.
Via Cibo, a fast-casual Italian street food concept, was acquired by Happy Belly earlier this year. The company sees significant potential in the Italian fast-casual segment and is focusing on expanding the brand throughout Ontario and Western Canada. Happy Belly's portfolio currently includes 376 contractually committed retail locations across various emerging brands, with five restaurant brands under simultaneous construction.
Positive
- Second Via Cibo franchise agreement signed in one week, indicating growing interest in the brand
- Expansion into Barrhaven, a rapidly growing suburb of Ottawa, targeting a diverse and family-oriented community
- Existing franchisee opening a second location, demonstrating confidence in the brand
- Happy Belly's portfolio includes 376 contractually committed retail locations across various brands
- Five restaurant brands currently under simultaneous construction, indicating active expansion
Negative
- None.
News Market Reaction – HBFGF
In the trading session that priced this news, HBFGF gained 8.57%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario--(Newsfile Corp. - October 15, 2024) - Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: HBFGF) ("Happy Belly" or the "Company"), a leading consolidator of emerging food brands is excited to announce it has signed a franchise agreement for the suburb of Barrhaven in the city of Ottawa, Ontario, for its newest multi-unit franchisee for its Via Cibo brand. Via Cibo serves fast casual Italian street food made with the best traditional ingredients for those looking for fast, fresh food that respects tradition and comes from a chef driven culinary experience.
Via Cibo 1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6625/226653_15a6a9d4645428aa_001full.jpg
"It's truly exciting when an existing franchisee commits to opening a second location. Following their success with Via Cibo in Kanata, our existing franchisee has signed a franchise agreement for a second site in Barrhaven, a suburb of Ottawa. This represents the second franchise agreement for the Via Cibo brand in just one week, highlighting the increasing interest in our concept, as we witness a notable rise in inquiries and applications from potential franchisees. Additionally, this new agreement establishes the second Via Cibo location within the city of Ottawa. When we acquired Via Cibo earlier this year, we saw its tremendous potential in the Italian fast-casual segment. Today's announcement is a significant step towards realizing that vision," said Sean Black, Chief Executive Officer of Happy Belly.
"Barrhaven, a rapidly growing suburb of Ottawa is an excellent location to open a Via Cibo due to its expanding population and diverse, family-oriented community. Known for its strong residential growth, Barrhaven is home to a mix of young families, professionals, and retirees, all seeking vibrant dining experiences. The area has a flourishing dining scene but still offers untapped potential for authentic, high-quality Italian cuisine. With its close-knit community feel and increasing demand for diverse culinary options, a Via Cibo Italian restaurant in Barrhaven could quickly become a go-to spot for families, date nights, and special occasions. The abundance of nearby amenities and easy accessibility from Ottawa's city center make it a prime location for an Italian dining experience. The combination of these factors makes Barrhaven a promising market for Via Cibo."
Via Cibo 2
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6625/226653_15a6a9d4645428aa_002full.jpg
"Our strategy has always centered on developing and growing emerging brands in the food industry, and Via Cibo perfectly aligns with that vision. We are excited to continue its expansion, not only throughout Ontario but also into Western Canada. We anticipate that our franchising program will play a key role in driving both top-line revenue and bottom-line profitability for the company."
Via Cibo 3
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6625/226653_15a6a9d4645428aa_003full.jpg
"As we open new stores within our portfolio, the Happy Belly footprint continues to grow. With 376 contractually committed retail locations from area developers across all emerging brands in the Happy Belly Portfolio-whether in the pipeline, under construction, or already opened-our team is focused on sourcing and reviewing real estate, evaluating franchisee applications, and collaborating closely with area developers to drive the growth of our asset-light franchising model. Currently, five of our restaurant brands are in the midst of simultaneous construction, and we eagerly anticipate announcing multiple brand openings throughout 2024-2025. Our commitment to signing quality franchisees and securing prime real estate locations for our franchisees across Canada will further fuel our expansion efforts."
We are just getting started.
About Via Cibo
Via Cibo, an all-franchised system, is an asset-light entity with established street-front real estate locations in both Ontario and Alberta. Authentic Italian Street food, made with the best traditional ingredients for those looking for fast, fresh food that respects tradition via a chef driven full-service restaurant without the full service. At Via Cibo you can enjoy an authentic Italian meal that does not require hours of your time or a great amount of money. Via Cibo is a fast casual restaurant which offers an experience tailored to your needs. Order from one of our greeters and our servers deliver your fresh authentic dishes to your table in under 10min. Via Cibo is the Italian food Italians talk about. Our kitchen is open, smell the food, watch the cooks, have a bite with friends and share in our love for food!
Franchising Information
For franchising inquiries please see www.happybellyfg.com/franchise-with-us/ or contact us at hello@happybellyfg.com
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, led by Sean Black, Chief Executive Officer and Shawn Moniz, Chief Operating Officer.
Happy Belly Food Group
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6625/226653_15a6a9d4645428aa_004full.jpg
Happy Belly Food Group
Sean Black
Chief Executive Officer
Shawn Moniz
Chief Operating Officer
For more information visit www.happybellyfg.com or email hello@happybellyfg.com.
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.
Cautionary Note Regarding Forward-Looking Statements. 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 www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226653