Happy Belly takes full control of Pirho Fresh Greek Grill
Happy Belly Food Group has acquired the remaining 50% interest in Pirho Fresh Greek Grill, solidifying its control over the brand. This move follows a partnership that began in March 2023, when the two companies formed a joint venture. Happy Belly plans to complete the transaction without cash or new share issuance, utilizing existing shares instead.
- ▪Happy Belly Food Group has exercised its option to buy the remaining 50% interest in Pirho Fresh Greek Grill.
- ▪The partnership between Happy Belly and Pirho began in March 2023 with a franchise acquisition agreement.
- ▪Happy Belly will acquire the remaining stake on a debt-free basis at a multiple of 7.5x TTM EBITDA.
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Happy Belly takes full control of Pirho Fresh Greek Grill Umesh Ellichipuram Tue, May 19, 2026 at 7:35 AM PDT 2 min read HBFG.CN -2.76% Happy Belly Food Group has exercised the option to buy the remaining 50% interest in Pirho Fresh Greek Grill in Canada. Pirho Fresh Greek Grill operates in the fast casual dining space, offering bowls, wraps and pittas with a Greek-inspired menu. The two businesses first formalised their partnership in March 2023, when they entered into a definitive franchise acquisition agreement. At that time, the parties created a joint venture company (JVCo) to drive franchise rollout and brand development for Pirho. To secure an initial 50% holding in the JVCo, Happy Belly agreed to issue common shares valued at C$250,000 ($181,617) at closing.
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