Organic Garage (TSX-V:OG) Ltd is gearing up for a serious retail expansion push throughout Ontario, the largest since the independent grocer’s inception.
The company said it has hired real estate firm Savills (LSE:SVS) Real Estate to help it locate and sign prospective new locations.
Both Organic Garage and Savills have identified 22 regions in southern Ontario where it wishes to scout for new properties.
READ: Organic Garage says subsidiary Future of Cheese launches new brand identity
All sites must preferably be within three kilometers of the target towns or cities, and approximately 10,500 square feet in size, the company said. The new sites will have to meet the strict financial and operational criteria the company has outlined, it added.
Organic Garage stores are currently in prime retail locations designed to give customers an inclusive, unique and value-focused grocery shopping experience.
“I am extremely confident in the experienced team at Savills to do what they do best and help drive our most aggressive, and exciting new-site expansion strategy for the Organic Garage brand,” Organic Garage CEO Matt Lurie said in a statement.
Lurie told shareholders that the coronavirus (COVID-19) pandemic has proven the importance and demand of grocery retail in the economy, calling it a “pandemic proof business.”
“Organic Garage has the brand, combined with the unique retail experience and value proposition that developers have been looking for to differentiate their properties and showcase independent retailers, not just the big grocery chains,” Lurie said. “Ontario residents want something different - the healthiest products at the lowest prices - and that’s what we do best.”
Savills executive vice president and head of retail services Canada, Jordan Karp, added that Organic Garage’s timing to expand across the Greater Toronto area and beyond “could not be better”.
“Developers and landlords are keenly focused on securing best-in-class tenants and new retail to their properties that deliver an exceptional shopping experience,” Karp added.
Organic Garage’s head offices are located in Toronto.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas