Once Upon A Farm Debuts On Wall Street With Star Power

Once Upon a Farm, the children’s organic food maker co-founded by actress Jennifer Garner, made its public debut on January 26, 2026, aiming for a valuation as high as $764.4 million. The Berkeley, California-based company, known for its cold-pressed pouches and snacks aimed at kids, entered the New York Stock Exchange under the symbol “OFRM,” signaling both a milestone for the business and a hopeful sign for a broader rebound in consumer IPOs this year.

The company’s public image is closely tied to Jennifer Garner, who appears in filings and marketing as “Farmer Jen.” Yet, behind the scenes, it’s John Foraker—former CEO of Annie’s Inc.—who’s steering the business as CEO. According to Bloomberg, Foraker’s experience running Annie’s before its sale to General Mills in 2014 is seen by many observers as a key asset for Once Upon a Farm’s future. “If Once Upon a Farm PBC performs well in its debut as a public company, the first curtain call should feature Chief Executive Officer John Foraker at center stage, not only actress Jennifer Garner,” the outlet noted, highlighting the importance of seasoned leadership in the company’s next chapter.

Once Upon a Farm’s journey to Wall Street hasn’t been without hurdles. The company originally intended to go public in 2025, but plans were derailed by the longest-ever U.S. government shutdown, which paused Securities and Exchange Commission (SEC) operations and delayed its IPO. Now, with the market’s appetite for consumer IPOs returning, the company and some of its backers are seeking to raise up to $208.9 million by offering 11 million shares priced between $17 and $19 each, as reported by Reuters. Investment firms CAVU Venture Partners, S2G Ventures, and Cambridge Companies SPG are among the top shareholders, with Goldman Sachs and J.P. Morgan leading the bookrunning for the offering.

According to the company’s registration statement, Once Upon a Farm plans to offer 10,997,209 shares of common stock—7,631,537 from the company itself and 3,365,672 from existing stockholders. There’s also a 30-day option for underwriters to purchase up to 1,649,581 additional shares at the IPO price. The proceeds, the company says, will be used to pay down debt, purchase equipment, fulfill certain payment obligations, and support general corporate purposes.

Financially, the company reported annual sales of $226 million as of September 30, 2025, but also a net loss of $52 million for the period. Its product portfolio is dominated by pouches (64% of sales), followed by snacks (35%), with other products making up the remaining 1%. The company’s reach is significant: its products are distributed in more than 22,000 stores nationwide, with an average of over 20 stock-keeping units (SKUs) per location. Key to its retail strategy are its branded coolers—currently numbering 3,200 in stores across the U.S.—which often replace standard shelving in the baby aisle and serve as a “key entry point into the brand for new consumer households,” according to company filings. The company estimates a potential to expand to more than 15,000 coolers across North America.

Despite its growth, Once Upon a Farm considers itself “underpenetrated” in the market compared to competitors like Gerber, GoGo squeeZ, and Stonyfield. The company cited data from Numerator’s Shopper Metrics Report, noting household penetration at 4.8% as of September 30, 2025—up from 3.1% the previous year. “This leaves us with significant room to deepen household penetration into the mid-teens or beyond, as we continue to grow brand awareness,” the company said in its SEC filing. Even as it grew its household reach by more than 50% over the year, it maintained a high buy rate of $46.02 per household for the twelve months ending September 30, 2025.

Innovation remains a major focus. Once Upon a Farm is looking to develop more functional children’s foods, reflecting broader health and wellness trends among parents. The company believes its direct-to-consumer website and consumer analytics platform will enable it to “enhance and expand our existing portfolio to fulfill these unmet needs and preferences.” Plans include building out products that support protein intake, brain health, and gut health—areas that, according to company leadership, matter deeply to today’s parents.

There are, however, some clouds on the horizon. In its prospectus, Once Upon a Farm warned that trade barriers, particularly those affecting Mexico and South America—regions from which it sources a significant share of its fruits and vegetables—could lead to ingredient shortages and higher costs. “Tariffs will be a sticking point for consumer IPOs, but at least investors now have more confidence in the impact, compared to last year,” Matt Kennedy, a senior strategist at Renaissance Capital, told Reuters. “Investors want predictability—that’s why it’s difficult to price an IPO when the supply chain is in the middle of a big shift with new tariffs.”

The company’s founding story is rooted in a blend of celebrity and industry expertise. Cassandra Curtis and Ari Raz started Once Upon a Farm in 2015. Two years later, Jennifer Garner and John Foraker joined as co-founders, bringing both star power and operational know-how. Garner’s involvement has always been more than just a face for the brand; she’s been an active board member and advocate for healthy children’s food. Still, as Bloomberg and other observers have pointed out, the company’s future as a public entity may rest more on Foraker’s steady hand and strategic vision—especially in a competitive and rapidly evolving market.

Once Upon a Farm’s portfolio now includes not only its signature cold-pressed pouches, but also frozen meals and oat bars, targeting children of all ages. The company’s 2022 funding round raised $52 million, helping to fuel its expansion into new retail locations and product categories. With the IPO now complete, the company is betting that its combination of brand recognition, innovative products, and experienced leadership will allow it to carve out a larger slice of the children’s food market.

As Once Upon a Farm takes its first steps as a public company, the stakes are high. The brand’s blend of celebrity appeal and business acumen will be tested against the realities of public markets, supply chain challenges, and the ever-shifting tastes of American families. Investors and parents alike will be watching closely to see if the company’s storybook promise can deliver in the chapters ahead.