Once Upon a Farm, the children’s organic food company co-founded by actress Jennifer Garner, was valued at nearly $845 million in its New York Stock Exchange debut on Friday, as consumer IPOs show signs of revival after a sluggish 2025.
The Berkeley, Calif.-based company’s stock opened at $21 apiece, compared with the $18 offer price. The firm and some of its backers sold roughly 11 million shares within the marketed range of $17 to $19 to raise about $198 million.
The IPO market is set for a breakout year, building on its gradual recovery in 2025 as pent-up demand for new listings and a strong pipeline of high-profile companies shape expectations for 2026.
“The IPO gives us access to some capital, which puts us in a position to make some really great investments in our supply chain and do other things to drive efficiency and to continue to invest in our brand,” Once Upon a Farm CEO John Foraker said in an interview.
“It’s also a marker of credibility and puts us in a position to continue to lead our categories.”
Once Upon a Farm was started in 2015 by Cassandra Curtis and Ari Raz. Two years later, Garner and John Foraker, former CEO of food brand Annie’s, joined as co-founders.
The company sells packaged food for children of all ages, including cold-pressed pouches, pantry snacks, frozen meals and oat bars. Its products are available at retailers such as Target, Kroger, and Walmart.
“We think the market opportunity for better-for-you baby and kids’ food is very significant,” Foraker said.
Millennial and Gen Z consumers are increasingly shifting towards organic and healthy products, benefiting brands that focus on nutritional offerings, such as Once Upon a Farm.
Consumer IPO rebound
Consumer-focused companies are becoming more optimistic about the IPO window this year, after President Trump’s sweeping tariffs dampened activity last year.
“Once Upon a Farm shows that high-quality, mission-driven consumer brands with strong fundamentals can successfully access the public markets,” Brett Thomas, co-founder at CAVU Consumer Partners, told Reuters.
“Looking ahead, we believe this transaction can catalyze renewed investor interest in the consumer category, and it has the potential to help reopen the window for high-quality consumer IPOs going forward.”
Two consumer companies, including furniture retailer Bob’s Discount Furniture, went public in New York this week, with more expected to follow.
KKR-backed OPI nail polish owner Wella Company and Blackstone-backed Jersey Mike’s Subs are among the potential IPO candidates from the consumer industry, Reuters previously reported.
Beverage company Suja Life last year said it had confidentially filed for an IPO.
