Happy Belly Food Group to open 25 Smile Tiger Coffee Roasters locations in British Columbia

CANADA – QSR franchise operator Happy Belly Food Group has unveiled plans to expand Smile Tiger Coffee Roasters in British Columbia through a new area development agreement, aiming to open 25 franchised locations across the province.

Happy Belly Food Group acquired specialty coffee roaster Smile Tiger in January 2025, aiming to expand its presence across Canada through its quick-service restaurant (QSR) platform.

The company plans to integrate Smile Tiger’s coffee distribution within its existing network, targeting a twofold increase in EBITDA within two years.

As part of its asset-light growth strategy, Happy Belly’s CEO, Sean Black, highlighted the importance of partnering with Scott Grandin, a leading Area Developer in Canada’s QSR sector.

Black emphasized the company’s commitment to generating shareholder value through a balanced approach to organic and inorganic growth, noting that acquiring debt-free, cash-flow-positive brands like Smile Tiger aligns with its low-risk strategy for consistent returns.

With 446 franchise locations under contract across its growing portfolio, Happy Belly is actively expanding its footprint into 2025 and 2026.

Black stated that a disciplined approach remains central to the company’s growth strategy, focusing on selecting the right franchise partners and securing prime real estate to meet development objectives.

The company aims to acquire high-potential assets at competitive valuations and rapidly scale their profitability, following a proven track record with brands such as Heal Wellness, Via Cibo, Rosie’s Burgers, and Yolks Breakfast.

In September 2024, Happy Belly completed its acquisition of Canadian QSR brand IQ Foods, adding four prime locations in downtown Toronto.

The transaction, finalized on September 18, 2024, followed an initial agreement signed on September 6.

The deal, structured as an asset purchase, was valued at CA$85,000 (US$627,130), inclusive of customary post-closing adjustments, transaction costs, and legal restructuring expenses.

The acquisition, approved by the Ontario Superior Court of Justice, brought four IQ Foods locations under Happy Belly’s umbrella.

These include outlets at 100 King Street West in First Canadian Place, 18 York Street in the Financial Centre, 199 Bay Street in the Equinox Gym and Fitness Center, and 55 Avenue Road in the Yorkville Equinox Gym and Fitness Center.

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