Oragin Foods (fka Organic Garage)

Oragin Foods operates an independent, Canadian chain of organic and natural product grocery stores in Toronto and the Greater Toronto Area in southern Ontario, Canada, under the name Organic Garage. Organic Garage focuses on providing customers with healthy choices at a low cost. Its ability to efficiently source organic products allows it to pass along the savings to customers. Its store concept checks multiple boxes with today’s food customers: healthy food, good value, small store convenience, and an overall premium shopping experience.

Oragin Foods also operates a CPG division under the name “The Future of Cheese” and continues to manufacture and sell the company’s products. The company is also working on several new products and plans to launch them in late Q1 or early Q2. Additionally, the company is looking to expand its presence in the US market, including working with a US-based co-packer and onboarding new retailers.

Foodtastic to Acquire Healthy-Food Restaurant Freshii for $74.4 Million

December 23, 2022 Chris Thompson

Foodtastic announced that it has entered into an agreement to acquire Freshii Inc. (TSX:FRII) . Under the terms of the agreement, Foodtastic will purchase all of Freshii’s shares for $2.30 in cash per share, totaling approximately $74.4 million. This price represents a premium of 148% over Freshii’s 20-day volume-weighted average price per share as of December 16, 2022, and a 142% premium over the closing price on the same date. [more]

Plant-Based Food Industry Update – Continued Growth in Plant-Based Meat Following Shifting Consumer Preferences

February 7, 2021 Michael Lacasse

Plant-based food technology is revolutionizing the way we see food. Texture and flavour innovations combined with lower environmental and health costs support remarkable product growth to meet consumer demand. [more]

Organic Garage – Quarterly Revenue Rises 22% Year-over-Year with Continued Stay-at-Home Bump

December 29, 2020 Chris Thompson

Organic Garage’s FQ3/2021 revenue was $6.92 million, an increase of 21.6% year-over-year. Gross Profits remains steady above 30%. With improved revenue and previous cost-cutting measures, EBITDA was substantially higher at $0.69 million. [more]

Organic Garage – Low-cost Healthy Food from an Undervalued Grocery Retailer

November 11, 2020 Chris Thompson

With the upswing in food retail due to the current COVID-19 health crisis, Organic Garage recognized revenue increases in the past two quarters of 19% and 29% year-over-year. We believe this sales trend should continue. The new Leaside store, opening next year, should boost revenue by 10-20% in 2021. [more]

Organic Garage Reports Sales Increase of 19% in FQ1/2021

July 5, 2020 Chris Thompson

Revenue increased to $8M with EBITDA of $1.2M. Organic Garage’s online sales almost doubled month-over-month in April to 6.6% of total sales. The Company’s 5th store, located in the Leaside neighborhood of Toronto, is set to open in Q2/2021. [more]

Organic Garage Released F2020 Results with Revenue of $24.1M, up 2.3% Y/Y

June 2, 2020 Israel Pinheiro

After the fiscal year end, the Company experienced “unprecedented” consumer demand because of the COVID-19 pandemic. OG is still on track to open its 5th store, in the Leaside neighborhood of Toronto, in early 2021. [more]

Analyst Articles

Canadian Organic Grocery Chain Secures C$3 Million Financing

October 30, 2019 Jay Yi

Organic Garage plans to continue scaling its business while it focuses on targeting positive cash flows with higher margins and developing partnerships with vendors for innovative programs. [more]