Core Viewpoint - Happy Belly Food Group Inc. has successfully completed the acquisition of 50% of Salus Fresh Foods, enhancing its portfolio of emerging food brands in Canada and aiming to become a leading consolidator in the sector [1][2]. Acquisition Details - The acquisition of Salus Fresh Foods was finalized, with Happy Belly acquiring 50% ownership for $300,000, issuing 272,479 common shares at a price of $1.101 per share, representing an estimated purchase price of 2.4 times normalized EBITDA [6]. - Salus Fresh Foods operates as a 100% franchised system with nine established locations in Ontario, focusing on fresh and healthy meal options [2][9]. Strategic Growth - Happy Belly reported strong organic growth in the first half of 2025 and aims to leverage this acquisition for further inorganic growth, consolidating sectors to create a high-performing portfolio [2][4]. - The acquisition is expected to bring synergies in areas such as real estate, franchising, accounting, and marketing, optimizing labor costs and enhancing productivity [4]. Company Overview - Happy Belly Food Group Inc. is recognized as a leader in acquiring and scaling emerging food brands across Canada, with this acquisition marking its tenth restaurant brand and twelfth food brand overall, totaling 73 restaurants [2][11].