The QSR franchise group acquired the Ontario-based specialty coffee roaster in January 2025 and has outlined plans to develop it from a single retail store to a multi-site, highly profitable part of its foodservice portfolio
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Smile Tiger currently operates a roastery and single retail location in Kitchener, Ontario | Photo credit: Happy Belly Food Group
Canadian QSR franchise group Happy Belly Food Group has signed an area development agreement to open 25 franchised Smile Tiger Coffee Roasters stores in British Columbia.
Founded in 2015, Smile Tiger currently operates a roastery and single retail location in Kitchener, Ontario. Happy Belly acquired specialty coffee roaster in January 2025 in a deal worth $173,000 and outlined plans to scale the business and serve its coffee across its existing QSR retail locations.
In a press release, Happy Belly said it will leverage its QSR platform to scale Smile Tiger across Canada with a focus on ‘doubling EBITDA in 24 months or less’.
“We have consistently proven our ability to acquire high-potential assets at reasonable multiples and rapidly expand their EBITDA. Smile Tiger is no exception. Signing this area development agreement for 25 net new locations in British Columbia alone exemplifies our ability to identify and integrate strong-performing brands, setting them up for even greater success under our Happy Belly operational framework,” said Sean Black, CEO, Happy Belly.
Founded in 2017, Vancouver-based Happy Belly’s brand portfolio includes brunch-focused café Yolks, 15-site acai bowl and smoothie operator Heal, plant-based café Lettuce Love, Greek restaurant chain Pi Rho Grill and fast-food chain Rosie’s Burgers.