Happy Belly Food Group has signed a binding letter of intent, effective May 4th, to acquire an initial 50 percent stake in Ontario-based Ghost Taco through a joint venture, with the option to purchase the remaining half later. The deal marks Happy Belly’s first acquisition of 2026 and adds Ghost Taco as its eleventh restaurant brand and twelfth overall portfolio company. Founded by Samantha and Grant Buckley in 2021, Ghost Taco has grown from a pop-up into a six-location quick casual franchise system known for its playful ‘unauthentic Mexican’ concept, offering tacos, bowls, sides and desserts across several Ontario markets. Happy Belly CEO Sean Black said the acquisition aligns with the company’s focus on founder-led brands that meet its ‘People, Product and Process’ criteria, while also re-entering the Mexican-inspired quick casual segment. Under the new JV structure, Ghost Taco’s founders will contribute the brand’s intellectual property, while Happy Belly will provide strategic support in franchising, marketing, operations and growth. The debt-free, cashflow-positive brand is expected to strengthen Happy Belly’s expanding acquisition and franchise platform, which now includes 681 contractually committed locations across its broader portfolio.
Ghost Taco, 247 Main St South, Newmarket, Ontario L3Y 3Z4 (905/235-8226 www.ghosttaco.ca)
Happy Belly Food Group, 100 King St West, Suite 7210, Toronto, Ontario M5X 1E1 (416/572-2000 www.happybellyfg.com)