Happy Belly Food Group Announces Closing of the Sale of Holy Crap Foods as it Focuses on Accelerating its QSR Businesses

Core Insights - Happy Belly Food Group Inc. has successfully completed the sale of its subsidiary Holy Crap Foods for $1,000,000 CAD in cash, plus working capital adjustments, converting a non-core asset into cash to support its core restaurant growth strategy [1][2][3] Financial Summary - The sale of Holy Crap Foods reflects an estimated 10x EBITDA sale multiple for the business, providing the company with added flexibility to fund near-term store openings and franchise expansion [2][3] Strategic Focus - The company aims to prioritize QSR-led growth and franchising, focusing on brands like Rosie's Burgers, Heal Wellness, Via Cibo, iQ Food Co., and Yolks Breakfast as it builds momentum through 2026 [2][3] Leadership Changes - Matt Appleby has been appointed to the Board of Directors, bringing extensive experience in corporate governance, mergers and acquisitions, and regulatory matters [4][5][6] - Kevin Cole has resigned from the Board to facilitate this appointment, with appreciation expressed for his contributions during his tenure [7]