Shares jump after organic food maker goes public
Once Upon a Farm entered public markets on Friday with a strong first trading session, as shares of the organic children’s nutrition company rose sharply following its debut on the New York Stock Exchange. Trading under the ticker OFRM, the stock opened at $21 per share, well above its initial public offering price, and ended the day up 17%.
IPO pricing and valuation details
The company priced its initial public offering at $18 per share, landing at the midpoint of the expected $17 to $19 range. Once Upon a Farm and its existing shareholders sold roughly 11 million shares, raising close to $198 million. The offering valued the company at approximately $724 million.
Brand origins and leadership structure
Founded in 2015, the Berkeley-based company focuses on organic, cold-processed, refrigerated baby food and snacks for children. Two years after launch, actress Jennifer Garner and former food executive John Foraker joined as co-founders. Garner holds a seat on the board, while Foraker serves as chief executive, overseeing day-to-day operations.
Management positions the brand as serving families across early childhood stages, with an emphasis on convenience and clean-label nutrition.
Consumer shift fuels growth momentum
The public listing comes amid a broader shift in consumer preferences away from heavily processed foods, particularly those marketed to children. This trend has created challenges for large packaged food companies while supporting growth for smaller, mission-driven brands.
In 2024, Once Upon a Farm reported net sales of $156.8 million, representing a 66% increase from the prior year. However, the company also posted wider losses, with net losses expanding to $23.8 million as it invested aggressively to scale the business.
Retail traction and mission-driven strategy
Retailers have increasingly supported organic and fresh food brands with prominent shelf placement, reflecting rising demand. Company leadership said this represents a sharp contrast with earlier eras of the organic food movement, when such products were often marginalized in stores.
Once Upon a Farm operates as a public benefit corporation and says it aims to advance systemic improvements in childhood nutrition. Management cited this mission as a key reason for choosing a public listing over a sale to a larger food conglomerate.
Use of proceeds and IPO market backdrop
The company plans to use proceeds from the offering to reduce debt, invest in new equipment, and support general corporate needs. Its IPO follows a delayed listing originally planned for last year, which was disrupted by an extended government shutdown.
The debut also reflects a broader reopening of the IPO market, supported by easing interest rate expectations and improving investor sentiment. Several sizable offerings have reached the market this week, signaling renewed appetite for growth-oriented consumer and retail businesses.
