Added to YB: 2025-07-03
Pitch date: 2025-06-26
HBFG.CN [bullish]
Happy Belly Food Group Inc.
-2.61%
current return
Author Info
No bio for this author
Company Info
Happy Belly Food Group Inc. operates as a multi-branded restaurant company that engages in acquiring and scaling emerging food brands across Canada.
Market Cap
CAD 146.3M
Pitch Price
CAD 1.15
Price Target
N/A
Dividend
N/A
Sector
Health Care Technology
Category
growth
One of my largest small-cap positions - Happy Bell Food Group
HBFG.CN: QSR franchise model w/ 50 locations now, 591 committed. Current unprofitable but nearing breakeven. Royalty economics: $50K/franchise @ 65% EBITDA margin. Projecting 500 franchises by 2029 = $17.5M EBITDA. At 25x multiple (low vs peers @ 25-92x), QSR worth $450M by 2029, 3x current mkt cap. CEO has prior successful exits to MTY/Fairfax.
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