Vancouver, British Columbia--(Newsfile Corp. - February 28, 2024) - Coho Collective Kitchens Inc. (TSXV: COHO) ("Coho" or the "Company"), is pleased to announce its ongoing collaboration with Next Level Partners, a division of Happy Belly Food Group (CSE: HBFG) (OTCQB: VGANF) ("Happy Belly") to provide consultancy services for the development of the highly anticipated Purebread location on West 4th Avenue in Vancouver. Together, they are committed to a model of accelerated growth, executing on its vision of nationwide expansion by 2026..
Purebread, known for its category-leading baked goods and commitment to quality, continues its work with the Happy Belly Food Group, to ensure the success of its new location in the vibrant Kitsilano area. This key partnership advances Purebread's execution plan of capturing increased market share within British Columbia. Leveraging Happy Belly's proven track record of brand expansion, it enables targeting a larger consumer base within a key segment of Purebread's demographic.
"We are really enjoying working with Andrew, Amrit and their team at Coho, as they accelerate the growth of Purebread in their home province of British Columbia and increase their market share. Purebread is an excellent brand and we look forward to continuing to build both its market share and footprint with Andrew and his team," said Sean Black, Chief Investment Officer of Happy Belly.
Coho's CEO, Andrew Barnes, expressed enthusiasm for the collaboration, stating, "This partnership aligns perfectly with our mission to grow the Purebread brand across Canada. We are proud to work with Sean and his team at Happy Belly in creating an exceptional Purebread experience for the Kitsilano community."
Located on the iconic West 4th Avenue, Purebread's new establishment will be situated in the heart of Kitsilano, an area known for its laid-back atmosphere, diverse culture, and strong sense of community. The demographics of Kitsilano, also known as "Kits," include a mix of young professionals, families, and food enthusiasts, making it an ideal location for the bakery experience that Purebread and Coho are poised to deliver.
"We chose Kitsilano for its vibrant energy and diverse community," added Andrew Barnes. "We believe that with Coho' expertise, Purebread will become a staple in Kitsilano, providing residents and visitors alike with a unique and memorable dining experience."
Purebread's West 4th Avenue location is expected to open its doors in summer of 2024, bringing a new era of artisanal baked goods to Vancouver's Kitsilano neighborhood.
About Next Level Partners
Through growth modeling and operational excellence, Next Level Partners' services guide businesses to focus on operational improvement to accelerate revenue and reduce costs. Next Level Partners experienced operational knowledge will help leaders navigate the moments that matter most in its companies' journeys toward success. Services will hone in on brands key business drivers to help shape management's objectives, goals, and strategies. Next Level Partners guide and support management to set the foundation for growth. They specialize their services to offer brands the guidance they need to achieve their goals. The name of their division speaks to exactly how they will operate, as true partners.
The team's past success has been rooted in building brands from the ground level. Next Level Partners' team has personally overseen the growth and launch of over 400 restaurants across North America through several brands categories with successful exits each time.
About Happy Belly Food Group
Happy Belly Food Group Inc. (CSE: HBFG) (OTCQB: VGANF) is a leading consolidator of emerging food brands.
About Purebread and Coho Collective Kitchens Inc.
Coho is a growing player in commercial real estate and food technology, operating fast casual restaurants and shared-kitchen facilities. As Canada's largest shared-kitchen company, Coho is expanding its presence and services. Through their combined efforts, Coho and Purebread strive to positively impact the communities in which they operate.
For more information, please visit cohocollectivekitchens.com or contact:
Andrew Barnes, Chief Executive Officer
Coho Collective Kitchens
andrew@cohocommissary.com
(778) 877-6513
Forward-Looking Information
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflect management's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, Coho's ability to open the locations described in this press release substantially in accordance with the timelines indicated above, the ability of the Company to execute on its strategy, the growth and performance of the ghost kitchen industry globally and in Canada; risks inherent in the ghost-kitchen, retail bakery, or coffeehouse sectors in general; that future results may vary from historical results; and competition in the markets where Coho operates. Except as required by securities law, Coho does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
