Jennifer Garner’s Once Upon a Farm Pulls in $198M

With input from Axios, Reuters, the Wall Street Journal, Bloomberg, and the Independent.

Once Upon a Farm — the Berkeley kids’ food brand co-founded by Jennifer Garner — quietly raised about $198 million in its US IPO on Thursday, proving there’s still appetite for food names with a health-and-transparency pitch.

Here’s the skinny: the company and some existing backers sold roughly 11 million shares at $18 a piece — right at the midpoint of the $17–$19 range. That pricing pegs the company at roughly $724.2 million, using shares outstanding listed in its prospectus. Once Upon a Farm will start trading on the NYSE under the ticker OFRM, with Goldman Sachs and J.P. Morgan running the book.

What they sell: a lineup aimed at parents and kids — cold-pressed fruit-and-veggie pouches, frozen meals and oat bars — and a storyline that leans hard on organic ingredients and clear labeling. Founders Cassandra Curtis and Ari Raz started the business in 2015; Garner and former Annie’s CEO John Foraker came on board in 2017 and helped beef up its profile.

Why the timing matters: the IPO comes as a raft of consumer and other high-profile companies ready to test the public markets in 2026 — a year that many expect could be a breakout for IPOs after a long slowdown. Investors are hunting for brands that can survive squeezed grocery aisles and fickle shoppers, and organic kids’ food checks a lot of boxes.

Warning label: the company flagged a real supply-chain risk in its filings. A big chunk of its fruit and vegetable inputs come from Mexico and South America, and trade barriers or disruptions there could lead to shortages or higher costs — a common concern for food businesses with cross-border sourcing.

Bottom line: Once Upon a Farm’s IPO isn’t a blow-out debut, but it’s a tidy raise for a niche consumer brand with a familiar celebrity face. If parents keep buying cleaner, simpler snacks, OFRM could have a runway. If trade snags or tastes shift, the company — like many consumer names — will be tested.