Jennifer Garner’s Once Upon a Farm raises nearly $198 million in US IPO

Feb 5 (Reuters) – Once Upon a Farm, the children’s organic food company co-founded by actor Jennifer Garner, said on Thursday it had raised nearly $198 million in its U.S. initial public offering. 

The Berkeley, California-based company and some of its backers offered around 11 million shares priced at $18 apiece. This was at midpoint of its targeted range of between $17 and $19 apiece. 

The IPO valued the company at about $724.2 million, based on shares outstanding listed in its prospectus. 

Pent-up demand and a pipeline of high-profile companies heading to market in 2026 are setting up the IPO market for a breakout year, following a years-long slump that showed signs of easing in the second half of 2025.

Cassandra Curtis and Ari Raz started Once Upon a Farm in 2015. Two years later, Garner and John Foraker, former CEO of food brand Annie’s, joined as co-founders.

The company sells products for children of all ages, including cold-pressed pouches, frozen meals and oat bars.

Industry experts say the shift toward organic and health-focused diets continues to shape buying habits, benefiting brands centered on nutrition and ingredient transparency.

Once Upon a Farm warned in its prospectus that trade barriers in Mexico and South America, from where it sources a significant share of its fruit and vegetable ingredients, could cause shortages and raise costs.

Despite a pickup in IPO activity, analysts have cautioned that trade tensions could still weigh on consumer companies exposed to cross-border supply chains.

Goldman Sachs and J.P.Morgan are the joint lead book-running managers. Once Upon a Farm will trade on the NYSE under the symbol “OFRM”.

(Reporting by Natalia Bueno Rebolledo in Mexico City and Manya Saini in Bengaluru; Editing by Rashmi Aich)