Jennifer Garner’s Baby Food Firm Weighs IPO as Soon as This Year

(Bloomberg) — Once Upon a Farm, the organic baby food company co-founded by actress Jennifer Garner, is considering an initial public offering as soon as this year, according to people familiar with the matter.

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The Berkeley, California-based company is working with banks on a potential listing, said the people, who asked not to be identified because they weren’t authorized to speak publicly.

Deliberations are ongoing and details of the offering could change, the people said. A representative for Once Upon a Farm didn’t immediately respond to a request for comment.

An IPO would look to build on momentum for first-time share sales in the US which have raised $10.1 billion so far in 2025, after January had its busiest start for such sales since 2022, data compiled by Bloomberg show. Smithfield Foods Inc., the world’s largest pork producer, raised $572 million in an IPO in January.

Debuts for consumer-facing companies have been modest since the market for IPOs slowed in 2022 when the Federal Reserve began to hike interest rates amid concerns about a potential recession. Just 18 consumer firms have raised more than $100 million in US IPOs since the end of 2021, data compiled by Bloomberg show. Shares of Cava Group Inc. and Amer Sports Inc. have delivered big gains for IPO buyers while Webtoon Entertainment Inc. and Savers Value Village Inc. have stumbled.

Once Upon a Farm makes kid-friendly pouches of no-sugar-added, organic, refrigerated fruit and vegetable puree, as well as bars, frozen meals and smoothie packets. The firm traces its roots to 2013 when co-founder Cassandra Curtis launched a line of cold-pressed baby food products, according to its website. Garner and former Annie’s Chief Executive Officer John Foraker joined in 2017.

The company raised $52 million in a funding round led by CAVU Venture Partners, along with existing investors S2G Ventures, Cambridge and Beechwood in May 2022, according to a statement at the time. It reached $100 million in retail sales that year, the website shows.

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