Once Upon a Farm PBC, the organic kids’ snack brand co-founded by actress Jennifer Garner is preparing for a major Wall Street debut. The company revealed in a government filing that it plans to raise up to $209 million in an initial public offering (IPO). The Berkeley-based company intends to sell roughly 11 million shares at a price between $17 and $19 each, which would give the business a total market value of about $764 million.
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Jennifer Garner Drives Brand Recognition
Jennifer Garner isn’t just a famous face for the company; she is a co-founder and Chief Brand Officer who is deeply involved in the business. According to the IPO filing, Garner has a special agreement where she is paid millions to act as “Farmer Jen” and promote the brand’s mission. She is scheduled to receive $2 million later this month, with another $5 million in payments coming over the next two years.
The actress even uses her family’s century-old farm in Oklahoma to grow some of the pumpkins used in the company’s products. This personal connection has helped the brand stand out in a crowded market full of big-name competitors. By blending her Hollywood status with a focus on healthy eating, Garner has helped turn a small startup into a household name that is now ready for the New York Stock Exchange.
Financials Show Growth amid Losses
The company’s sales have been climbing fast, reaching $176.7 million for the first nine months of 2025. This is a massive jump from the $107.6 million they made during the same time the year before. However, the cost of growing so quickly is high, as the company reported a net loss of nearly $40 million in that same period.
Investors are currently deciding if the company can eventually become profitable as it scales up. While the gross margin, the profit made on each pouch before other costs, dipped slightly to 40%, management believes that buying new equipment with the IPO money will help lower their expenses. The company plans to use the cash from the stock sale to pay off debt and expand into new types of snacks, like bars and frozen meals.
Once Upon a Farm Expands Beyond the Baby Aisle
Once Upon a Farm has successfully moved from just making baby food to becoming a full-scale “kids’ brand.” Their products are now found in over 2,800 stores, including major names like Walmart (WMT), Target (TGT), and Kroger (KR). The company has carved out a “store-within-a-store” feel through the installation of its own refrigerated coolers, a move that successfully attracts parents looking for fresh, no-sugar-added options.
The company is also a “Public Benefit Corporation,” which means they have a legal duty to help the community, not just make money. This status is a core part of their identity, as they work with organizations like Save the Children to provide healthy meals to families in need. As they go public under the symbol OFRM, they will have to prove that they can satisfy both their social mission and their new Wall Street shareholders.
