Jennifer Garner was present at the New York Stock Exchange on Friday afternoon. She had just taken her company, Once Upon a Farm, public alongside her cofounders Cassandra Curtis and John Foraker. Nearby, employees and their children were celebrating.
Hours after the company began trading as OFRM, Garner told , “We probably slept an hour each.”
Curtis established Once Upon a Farm as a nutritional baby food brand over ten years ago. More than eight years back, Garner and Foraker partnered with her to launch a new chapter, with all three adopting the cofounder title. (Foraker, previously CEO of Annie’s, serves as the company’s CEO.) Currently, Once Upon a Farm generates $200 million in yearly revenue, per its , and is available in 19,000 retail locations. Though the brand initially focused on baby food, it has since broadened into children’s food products, including well-liked yogurt pouches.
The company’s IPO secured $198 million for Once Upon a Farm, giving it a $724 million valuation. The stock price has risen nearly 40% from its $18 listing price, currently trading at $25.10. The S-1 filing outlines Garner’s compensation arrangement with Once Upon a Farm; she will join the new public entity’s board of directors while maintaining her positions as cofounder and spokesperson, known as “Farmer Jen.” She earned $1 million last year for this role and is slated to receive between $2 million and $3 million in annual compensation through 2028. This excludes her stock options and an IPO-price-linked bonus.
According to Garner, the IPO enables Once Upon a Farm to advance its mission of “driving systemic improvement in childhood nutrition for a happier, healthier and more equitable world.” Had the brand opted for an acquisition by a major food corporation, its current leadership would have forfeited control of the operation. This mission aligns with Garner’s longstanding role as a Save the Children ambassador. “Maintaining this company’s independence and managing it ourselves truly allows us to remain faithful to our principles of democratizing quality food for all children and serving as an ally to parents,” Garner states.
Following this capital raise, Once Upon a Farm intends to concentrate on “the lunchbox,” referring to its products for older children.
The Wall Street Journal labeled the “MAHA era” as Once Upon a Farm’s . The company referenced the Make America Healthy Again movement in its S-1 filing, noting its possible influence on food regulation.
Curtis views the increased focus on ingredients and nutrition as beneficial. “It’s truly exciting to witness U.S. dietary guidelines finally aligning with what we’ve always advocated for, placing greater emphasis on real food, less processed options, and fruits and vegetables,” she remarks.