NEW YORK — Once Upon a Farm, the children’s organic food company co-founded by actor Jennifer Garner, aims for a valuation of up to $764.4 million in its U.S. initial public offering, as optimism grows for a rebound in consumer-facing IPOs in 2026.
The Berkeley, California-based company and some shareholders are looking to raise up to $208.9 million by offering 11 million shares priced between $17 and $19 each, according to its prospectus. The offering would value the company at the high end of the proposed range if fully subscribed.
Dealmakers expect listings from retailers and consumer goods companies to rebound this year after a slowdown in 2025, when uncertainty related to U.S. trade policy impacted issuance. Still, tariff exposure remains a concern for investors evaluating consumer IPOs.
Once Upon a Farm warned that trade barriers impacting Mexico and South America, where it sources a significant share of its fruit and vegetable ingredients, could cause supply disruptions and higher input costs.
Founded in 2015 by Cassandra Curtis and Ari Raz, Once Upon a Farm expanded its leadership team in 2017 when Garner and John Foraker, former CEO of Annie’s, joined as co-founders. The company offers refrigerated and frozen organic products for children, including cold-pressed pouches, meals, and oat bars.
The IPO was originally scheduled for 2025 but was postponed after the longest U.S. government shutdown on record temporarily halted Securities and Exchange Commission operations.
Investment firms CAVU Venture Partners, S2G Ventures, and Cambridge Companies SPG are some of the largest shareholders of the company. Once Upon a Farm raised $52 million in a 2022 funding round.
Goldman Sachs and J.P. Morgan are acting as joint lead bookrunner managers. The company intends to list on the New York Stock Exchange under the ticker OFRM.
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