Organic Garage (OG.V) Spread its Roots Through Construction of Two Additional Stores

As COVID-19 continues to impact consumer habits, overall food prices in Canada are expected to rise 3 to 5% in 2021 with meat, bakery, and vegetables seeing the largest increase. Based on the average Canadian family, the annual food expenditure is predicted to be $13,907 in 2021, marking an increase of up to $695 or 5% compared to 2020. As the ongoing pandemic continues to adversely affect the livelihood of Canadians, many are left struggling to budget for their conventional groceries. Organic Garage (OG.V) is an organic retail food business with over 14 years of operating history in the GTA and is committed to providing consumers with the highest-quality organic products without sacrificing affordability. In 2020, approximately 82% of Canadians who buy organic food regularly shop for organic products at standard grocery retailers. Comparatively, only 25% of consumers purchased their organic foods from natural health stores. To combat this disparity between specialized organic stores and conventional grocers, Organic Garage offers more than 9,000 SKUs covering all product categories to create a one-stop-shop for customers. These categories include produce, grocery, meat, bakery, vitamins, health and beauty. Through unique branding, customer incentives, and quality products, Organic Garage is working towards establishing long-term customer relationships and promoting brand loyalty. With four stores located in Ontario, Organic Garage hopes to take advantage of the province’s organic retail market. Ontario currently represents the largest organic retail market in Canada and is valued at $1 billion per annum. With no dominant market leader, the Company has its sights set on becoming a leading organic grocer in the GTA with plans for an additional retail location in Toronto. In the first quarter of 2021, Organic Garage saw its sales increase 19.4% to $8 million from $6.7 million compared to the first quarter of 2020. Similarly, Organic Garage’s online sales have performed well, representing 6% of overall sales for the Company. Looking forward, Organic Garage plans to construct two additional stores following the opening of its latest Toronto location, which is scheduled to open at some point this year. In addition to expanding its presence nationwide, Organic Garage recently entered the multi-billion-dollar butter market after acquiring Future of Cheese, a plant-based food company. In cooperation with Future of Cheese, Organic Garage recently commenced the commercial production of its initial line of vegan butter products. With an extensive history of grocery experience and an active market presence, Organic Garage shows potential as an organic food retailer.