Jennifer Garner’s Organic Brand Secures $720 Million Valuation in IPO
New York, Friday, 6 February 2026.
Jennifer Garner’s organic nutrition brand, Once Upon a Farm, successfully priced its IPO at $18 per share, raising nearly $198 million. Valued at roughly $720 million, the company tests investor appetite for premium health foods as it debuts on the NYSE today, despite reporting recent net losses.
Market Debut Details
Once Upon a Farm, PBC priced its offering at the midpoint of its marketed range of $17 to $19, selling shares at $18 apiece [1][2]. The transaction involved a total of 10,997,209 shares, with the company offering 7,631,537 shares and existing stockholders selling 3,365,672 shares [3]. This pricing structure allowed the Berkeley, California-based firm to raise approximately $197.95 million [4]. The stock begins trading today, Friday, February 6, 2026, on the New York Stock Exchange under the ticker symbol “OFRM” [4]. At this pricing level, the company commands a market capitalization of approximately $724.2 million [1].
Financial Health and Profitability
While the IPO signals a resurgence in the capital markets, the company’s financial health presents a mixed picture for potential investors. InvestingPro data indicates that Once Upon a Farm is not yet profitable, having generated $225.87 million in revenue over the last twelve months while posting a negative EBITDA of -$7.67 million [3]. More specific recent filings reveal a widening deficit; the company reported a net loss of $39.8 million for the nine months ended September 30, 2025, compared to a loss of $11.6 million during the same period in 2024 [2]. Additionally, gross margins have compressed, falling to 40% in the first nine months of 2025 from 42% the previous year [2]. The company plans to use the net proceeds from this offering to repay $46.31 million in outstanding debt, purchase new equipment, and fund general corporate operations [3].
Strategic Leadership and Product Expansion
The brand’s identity is heavily influenced by its high-profile leadership team. Although founded in 2015 by Cassandra Curtis and Ari Raz, the company’s profile grew significantly after actress Jennifer Garner and industry veteran John Foraker joined as co-founders in 2017 [1]. Foraker previously served as CEO of Annie’s Inc., where he led the natural food brand through its 2012 IPO and subsequent sale to General Mills [4]. To drive future growth, the company is diversifying its portfolio beyond its core cold-pressed pouches and frozen meals [3]. On Tuesday, the brand announced an expansion into the toddler category with three new products, including soft-baked bars and probiotic blends, aiming to capture a larger share of the organic nutrition market [5].
Supply Chain Vulnerabilities and Market Outlook
As the stock begins trading, analysts are closely monitoring external economic factors that could impact the brand’s trajectory. The prospectus explicitly warned that trade barriers in Mexico and South America—key sourcing regions for its fruit and vegetable ingredients—could lead to supply shortages and increased costs [1]. These concerns come as experts caution that trade tensions may weigh on consumer companies with cross-border exposure, even as the broader IPO market attempts a breakout year following a slump in 2025 [1]. The offering was managed by joint lead book-runners Goldman Sachs and J.P. Morgan, who have been granted a 30-day option to purchase an additional 1,649,581 shares [3].