Jennifer Garner's Once Upon a Farm Files for an IPO
Once Upon a Farm, the organic children's food company co-owned by actress Jennifer Garner, has filed for an initial public offering of stock, noting its sales have been growing at a 64% rate and reached $202 million in the first six months of this year alone. The share price and launch date have not yet been determined.
“At Once Upon a Farm, we are driving systemic change in childhood nutrition with real, organic, farm-fresh food–made with no added sugar, no preservatives, and nothing artificial,” the company’s prospectus says. “From baby’s first bites to kid’s school-ready snacks, we are a rapidly growing leader in modern childhood nutrition that provides innovative, nutrient-packed, delicious food to on-the-go parents for their babies and kids.”
The company apparently is a public benefit corporation, and has a strong commitment to charities relating to childhood nutrition. It was one of the three companies featured in our October 2024 cover story “Why Celebrities Start Food Companies.”
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Once Upon a Farm was started by Cassandra Curtis and Ari Raz in 2015 “with a mission centered around two main pillars:
• Kids should be eating food that is organic, fresh, clean, and real
• Parents need food options that are delicious, nutritious, and convenient.
In 2017, Curtis brought on Annie’s former CEO John Foraker as chief executive and Garner, in promotional materials listing Garner as a co-founder. Then the company began to take off.
The Securities and Exchange Commission filing lists 2018 sales at $8 million, followed by a steady and steep growth curve that hit $94 million in 2023 and nearly $202 million for the first half of this year. But it also notes a net loss of $48 million in the 12 months ending this June 30.
Once Upon a Farm’s original products were baby and toddler foods in pouches, but it's grown into other formats and products for older children. A refrigerated bar debuted in 2023, followed by A2 whole milk shakes in pouches, puffs, melts and pasta meals. Many of the products are cold-pressed.
The filing notes a “core demographic comprised of loyal consumers with strong brand affinity.”
“We revolutionized the childhood nutrition category with what we believe is the first-ever cold-pressed pouch, setting a new standard for nutrition that parents love and kids crave,” the prospectus continues. “From one mother’s kitchen and farmers markets to a beloved household brand, we are the No. 1 growth brand in the category, elevating parents’ expectations for the food their children consume and eliminating the need to compromise taste and quality for convenience.”
About the Author
Dave Fusaro
Editor in Chief
Dave Fusaro has served as editor in chief of Food Processing magazine since 2003. Dave has 30 years experience in food & beverage industry journalism and has won several national ASBPE writing awards for his Food Processing stories. Dave has been interviewed on CNN, quoted in national newspapers and he authored a 200-page market research report on the milk industry. Formerly an award-winning newspaper reporter who specialized in business writing, he holds a BA in journalism from Marquette University. Prior to joining Food Processing, Dave was Editor-In-Chief of Dairy Foods and was Managing Editor of Prepared Foods.