Once Upon a Farm, the organic baby food company co-founded by actress Jennifer Garner, has confidentially filed for an initial public offering (IPO) in New York, according to sources familiar with the matter.
The Berkeley, California-based company has enlisted several investment banks to lead the IPO, which could launch as early as this year, the sources said, while cautioning that timing could shift based on market conditions. Goldman Sachs and JPMorgan are serving as lead underwriters, according to the sources, who requested anonymity due to the confidential nature of the plans.
The offering could value Once Upon a Farm at around $1 billion, one of the individuals noted. The company did not immediately respond to a request for comment. Goldman Sachs and JPMorgan also declined to comment.
Garner, known for her roles in the TV series Alias and films like Dallas Buyers Club and Catch Me If You Can, has long been an advocate for childhood nutrition. A mother of three, she grows some of the produce used by 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 was created to offer healthier baby food alternatives. Garner and John Foraker, the former CEO of organic food brand Annie’s, joined the company as co-founders in 2017.
The company’s product lineup includes oat bars, cold-pressed fruit and vegetable pouches, and frozen meals for babies, toddlers, and young children. Its products are sold in grocery stores across the United States.
If completed, the IPO would mark a notable addition to the recent uptick in U.S. public offerings, a market that is rebounding after being cooled earlier this year by President Trump’s tariff announcements. According to Dealogic, U.S. IPOs have raised about $27 billion so far this year—down from $41 billion during the same period in 2024, but ahead of the $22 billion and $24 billion raised in 2022 and 2023, respectively.
Recent debuts have helped fuel market momentum. Digital bank Chime surged 59% in its Nasdaq debut last week, reaching a valuation of $18.4 billion. Meanwhile, stablecoin issuer Circle Internet Group soared to $103.75 during its first trading day earlier this month, prompting several volatility-related trading halts.
Pump Radar
Stock Alerts
