News

GRILLiT changes name as part of acquisition strategy

February 24, 2014

GRILLiT Inc. announced today that it is broadening its corporate vision to include a strategy of acquisition of interests in health-conscious, premium foods suppliers, restaurant franchises, and other entities within the expanding healthy, natural foods sector.

According to a news release, in order to reflect this expanded strategy, the company has begun the process to change its corporate name from GRILLiT Inc. to "Healthy & Tasty Brands Corp."

The company plans to operate GRILLiT as a wholly owned subsidiary, which will continue to carry out its restaurant operations and franchise development plan.

The company recently expanded its menu options by entering into a supply agreement with Natura Foods LLC, the exclusive distributor of Gaucho Ranch-branded South American natural and organic grass-fed beef. As part of the transaction, the company made an agreement to acquire a 10 percent equity stake in Natura Foods.

"Our expanded strategy is to identify companies with growth potential in the natural and healthy foods sector that are complementary to our core focus of developing the brand names of tomorrow in the emerging fresh and healthy restaurant segment," CEO Ghazi Hajj said in the release. "We believe that by acquiring these types of ownership interests and forging strong alliances with these types of companies that we can greatly accelerate our goal of becoming a leader in the healthy, fast casual segment. This strategy further represents a pathway to additional revenue streams, as well as new cross marketing and branding opportunities."