Emerging food brands consolidation leader Happy Belly Food Group Inc (OTCMKTS:VGANF) was in the news cycle this past Friday after it announced that it appointed Sean Black to its board of directors. It should be noted that Black is currently the Chief Investment Officer at Happy Belly and previously he had also been the Chief Development Officer at MTY.
Market Action
On Friday, VGANF stock increased 0.14% to $0.0711 with 2.13K shares, compared to volume of 4.46K shares. The stock moved within a range of $0.0689 – 0.0737 after opening trade at $0.0689.
Happy Belly Food Group Appoints Sean Black to Board of Directors
The Chief Executive Officer of the company Shawn Moniz spoke about the development as well. Moniz noted that the appointment of Black to the company’s board of directors was a natural evolution in path of growth for Happy Belly. He went on to note that since he joined the company full time earlier on this year, he had been instrumental taking care of the growth strategy, evolution of the brand, franchise models and the mergers and acquisitions strategy.
Moniz also noted that Black was perfectly qualified to take on the extra responsibilities that are going to come with being a member of the company’s board of directors. The appointment of a new board member is almost always seen as a major new development and it is now going to be interesting to see if it has any effect on the Happy Belly stock or not.
Key Quote
“I am excited to continually see the Happy Belly story unfold,” said Sean Black, Chief Investment Officer of Happy Belly. “Working directly with Stanley & Claude during my time at MTY Food Group, I learned how the foundational building blocks of a great company were assembled. Those same blocks are being applied here today at Happy Belly Food Group. I look forward to continuing to build a stable of emerging brands and become a leading consolidator of great brands with great food and great people here at Happy Belly.”
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