In order to more accurately reflect this expanded strategy, the company has begun the process to change its corporate name from GRILLiT Inc. to "Healthy & Tasty Brands Corporation."
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% equity stake in Natura Foods. This investment is an example of other such transactions the company is currently evaluating.
"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," said the company's CEO, Ghazi Hajj. "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."
The company will announce updates as this plan is implemented throughout the course of the next several weeks.