Fonds de solidarité FTQ invests $5M in Oatbox

The Barista oat beverage made to froth in hot beverages such as coffee can now be found in over 600 outlets. (CNW Group/Fonds de solidarité FTQ)

MONTRÉAL — The Fonds de solidarité FTQ is investing $5 million in Oatbox, a manufacturer involved with food products and ingredients made from Canadian oats. The cash infusion will be used to fuel the company’s growth.

“The support of the Fonds de solidarité FTQ is a real vote of confidence in Oatbox. We have great respect for the Fonds’ partner companies and feel like we’re joining a big family. For a company like ours, which is just beginning to realize its tremendous potential, having a prominent investor like the Fonds de solidarité FTQ boosts our credibility with our business partners and will help speed up growth,” said Oatbox co-founder and president Marc-Antoine Bovet.

“We’re very proud to add a budding company like Oatbox to our agrifood portfolio. With its ambitious long-term vision, the company is well positioned to capitalize on opportunities in a growing market,” said Patrice Jolivet, Vice-President, Private Equity and Impact Investing – Agrifood and Health, at the Fonds de solidarité FTQ. Since its inception in 1983, the Fonds has invested over $1.3 billion in the Québec agrifood sector.

Oatbox was founded in Montréal in 2014, initially specializing in direct sales of dry oat-based products such as granola, oatmeal, overnight oats and bars. In 2021, the company took a big step forward by investing nearly $10 million in a new plant to produce a liquid oat base that is not only used for its own line of oat beverages but that is marketed as a premium ingredient to other food processors looking to develop oat-based dairy alternatives.

Introduced on the market in June 2023, the Original oat beverage fortified with vitamins and minerals and the Barista oat beverage made to froth in hot beverages such as coffee can now be found in over 600 outlets.

That same year, Oatbox also won the Prix Relève Alimentaire Québec, recognizing the scale and importance of an oat base manufacturing plant in Québec, which enables Oatbox and other companies to offer oat products to a burgeoning market.