Jennifer Garner’s baby food brand Once Upon a Farm sets terms for $198 million IPO
February 5, 2026 News
Jennifer Garner’s baby food brand Once Upon a Farm prices IPO at $18 midpoint
Once Upon a Farm, which produces organic baby food, raised $198 million by offering 11 million shares （31% secondary） at $18, the midpoint of the range of $17 to $19. At pricing, the company commands a fully diluted market value of $811 million
IPO Overview
Once Upon a Farm, which produces organic baby food, announced terms for its IPO on Monday.
The Berkeley, CA-based company plans to raise $198 million by offering 11.0 million shares （31% secondary） at a price range of $17 to $19. At the midpoint of the proposed range, Once Upon a Farm would command a fully diluted market value of $811 million.
The company produces organic, refrigerated food products for babies and children, with a core line of cold-pressed pouches, as well as oat bars, dry snacks, and frozen meals, designed for convenient, on-the-go use. Its products are distributed both through retailers and online, with placement in over 3,200 stores and 40% of sales volume from online.
Once Upon a Farm was founded in 2015 and booked $202 million in sales for the 12 months ended June 30, 2025. It plans to list on the NYSE under the symbol OFRM. Goldman Sachs, J.P. Morgan, BofA Securities, William Blair, Barclays, Evercore ISI, Deutsche Bank, Oppenheimer & Co., and TD Cowen are the joint bookrunners on the deal. It is expected to price during the week of February 2, 2026.
About the Company
At Once Upon a Farm, we are driving systemic change in childhood nutrition with real, organic, farm-fresh food–made with no added sugar, no preservatives, and nothing artificial. From baby’s first bites to kid’s school-ready snacks, we are a rapidly growing leader in modern childhood nutrition that provides innovative, nutrient-packed, delicious food to on-the-go parents for their babies and kids. We revolutionized the childhood nutrition category with what we believe is the first-ever cold-pressed Pouch, setting a new standard for nutrition that parents love and kids crave. From one mother’s kitchen and farmers markets to a beloved household brand, we are the #1 growth brand in the category, elevating parents’ expectations for the food their children consume and eliminating the need to compromise taste and quality for convenience. Our mission and commitment to our consumers guide every decision we make and are at the heart of our identity and journey ahead. We are a public benefit corporation, which requires us to uphold high social and environmental standards and provide transparency for all of our stockholders. Additionally, we believe we are the first baby through kid parent-ally brand with a deep commitment to superior, fresh products with high nutritional standards and incredible taste.