Once Upon a Farm, Co-Founded by Jennifer Garner, Files for IPO in New York
By Echo Wang and Abigail Summerville
(Reuters) – Once Upon a Farm, the organic baby food company co-founded by actor Jennifer Garner, has filed confidentially for an initial public offering in New York, according to sources familiar with the matter.
The Berkeley, California-based company has enlisted a group of investment banks for the IPO, with Goldman Sachs and JPMorgan as the lead underwriters. The offering, which could value the company at around $1 billion, may take place later this year, subject to market conditions. Once Upon a Farm did not immediately respond to a request for comment, while Goldman Sachs and JPMorgan declined to comment.
Garner, known for her roles in “Alias” and films like “Dallas Buyers Club,” is a mother of three and deeply passionate about childhood nutrition. She grows some produce for Once Upon a Farm on her family’s century-old farm in Oklahoma.
Founded in 2015 by Cassandra Curtis and Ari Raz, Once Upon a Farm aims to provide healthier baby food options. In 2017, Garner and John Foraker, the former CEO of Annie’s, joined the company as co-founders. Their product line includes oat bars, cold-pressed pouches, and frozen meals for babies, toddlers, and children, available in supermarkets across the U.S.
An IPO for Once Upon a Farm would capitalize on the recent uptick in market debuts in the U.S. Despite a slowdown earlier this year due to tariff announcements, IPOs in the U.S. have raised about $27 billion so far in 2021. This figure surpasses the amounts raised in 2020 and 2019 during the same period.
Recent Nasdaq debuts, such as Chime and Circle Internet Group, have seen significant success, with Chime’s stock jumping 59% and Circle Internet Group’s stock climbing to $103.75 during its first day of trading.
(Reporting by Echo Wang and Abigail Summerville in New York. Editing by Dawn Kopecki and Matthew Lewis)
