Shares of Jennifer Garner's Once Upon a Farm Surge 20% Following Market Debut
In an exciting turn of events, shares for Once Upon a Farm, co-founded by actress Jennifer Garner, witnessed a remarkable 20% increase during their initial public offering (IPO) on the New York Stock Exchange (NYSE) this past Friday, February 6, 2026. Garner, alongside co-founder Cassandra Curtis, proudly celebrated this milestone on the trading floor.
Once Upon a Farm, which trades under the ticker symbol "OFRM," kicked off its public journey with an opening share price of $21, reflecting a 16% rise from its IPO pricing. As the trading day progressed, the stock's value surged further, reaching a notable 20% increase in the afternoon session.
The company, known for its organic children's nutrition products, set its IPO price at $18 per share on Thursday, landing comfortably within the anticipated range of $17 to $19. In total, around 11 million shares were sold, raising approximately $197.9 million and establishing a company valuation of $724 million.
Founded in 2015 by Cassandra Curtis and Ari Raz, this Berkeley-based enterprise specializes in providing a variety of organic, cold-processed, refrigerated baby foods and snacks for kids. In 2017, Jennifer Garner joined the team as a co-founder and now serves on the board, affectionately nicknamed "Farmer Jen." John Foraker, the former CEO of Annie's Homegrown, also became a co-founder and is currently leading the company as CEO, where he humorously refers to himself as the "Grand Poobah of organic."
"Our mission is to nourish children from infancy through childhood while simplifying life for parents," Garner shared in an interview with CNBC.
The timing of Once Upon a Farm’s IPO aligns with a growing consumer and legislative push against highly processed foods, particularly for children. This movement, exemplified by Health and Human Services Secretary Robert Kennedy Jr.'s "Make America Healthy Again" initiative, has garnered support from health-conscious parents, often referred to as "MAHA moms," who advocate for healthier options, challenging the status quo regarding junk food and childhood vaccinations.
This increasing consumer awareness has negatively impacted large food corporations while simultaneously boosting the growth of emerging brands like Once Upon a Farm. The company reported net sales of $156.8 million in 2024, marking an impressive 66% increase from the previous year, despite experiencing an increase in losses from $17.6 million to $23.8 million, according to regulatory filings.
"With these favorable trends and consumer preferences shifting in our direction, we’re keen to capitalize on this momentum and provide even more value to our customers," remarked Foraker.
Retailers are taking heed of these changes, now dedicating premium shelf space to organic products—an encouraging shift compared to Foraker's earlier experiences at Annie's, where organic items were often relegated to less desirable areas in grocery stores.
As a public benefit corporation, Once Upon a Farm is committed to facilitating significant improvements in childhood nutrition, as outlined in its mission statement. Foraker explained that this dedication to their purpose was a key factor in the decision to go public rather than pursue a sale, which is a common route for new consumer goods companies.
While Foraker enjoyed his tenure with General Mills after it acquired Annie's in 2014, he expressed concerns about how many companies in the food and beverage sector fail to uphold the commitments they make to the brands they acquire. This ongoing issue is illustrated by the prolonged conflict between Ben & Jerry's and its previous owner Unilever, showcasing the complexities involved in corporate acquisitions.
Although plans for Once Upon a Farm's IPO had initially been set for last year, they were postponed due to an unprecedented government shutdown. Now, with the proceeds from the IPO, the company aims to pay down debt, invest in new equipment, and cover various corporate expenses, as detailed in regulatory filings.
Looking ahead, the market anticipates a surge in IPOs this year, driven by recent interest rate reductions and a backlog of companies eager to enter the public arena after being deterred by market fluctuations and economic uncertainties. Just this week, seven companies made their market debut through IPOs, collectively raising at least $150 million, including Bob's Discount Furniture, highlighting a renewed investor interest.
