6Pre-AdvancedBusinessBusiness

Once Upon a Farm Goes Public on the Stock Market

Once Upon a Farm, the organic baby food company co-founded by actress Jennifer Garner, has priced its IPO at $18 per share. The company raised nearly $198 million and began trading on the New York Stock Exchange. This milestone reflects growing investor interest in premium organic food brands.

2 min readLevel 6February 6, 2026

Vocabulary

Study these words before reading the article. Click the audio button to hear pronunciation.

prospectus

/prəˈspɛktəs/

noun

An official document that provides details about a company's financial situation and plans, issued before selling shares to the public

“Investors carefully reviewed the prospectus before deciding to purchase shares in the new offering.”

underwriter

/ˈʌndərˌraɪtər/

noun

A financial institution that manages the process of issuing and selling new shares to the public on behalf of a company

“The bank acted as the lead underwriter, guaranteeing the sale of shares during the IPO.”

valuation

/ˌvæljuˈeɪʃən/

noun

An estimate of how much a company or asset is worth, usually based on financial analysis

“The startup achieved a valuation of over one billion dollars after its latest funding round.”

trajectory

/trəˈdʒɛktəri/

noun

The path or direction in which something is developing or changing over time

“The company's growth trajectory attracted the attention of several major investment firms.”

diminished

/dɪˈmɪnɪʃt/

adjective

Reduced in size, importance, or value compared to a previous level

“Consumer confidence had diminished significantly following the economic downturn last quarter.”

proceeds

/ˈproʊsiːdz/

noun

The money received from a sale, business deal, or financial event such as an IPO

“The company announced that the proceeds from the bond sale would fund its international expansion.”

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Article

Click on any underlined word to see its definition. Highlighted words are from the vocabulary section.

Once Upon a Farm, a popular organic children's food brand, has officially gone public. The company priced its initial public offering at $18 per share on February 6, 2026. Co-founded by actress Jennifer Garner, the firm raised approximately $198 million through the offering. Goldman Sachs and J.P. Morgan served as the lead underwriters for this landmark deal. The company now trades on the New York Stock Exchange under the ticker symbol OFRM.

The company had initially planned to launch its IPO in 2025. However, the listing was postponed due to the prolonged government shutdown last year. Had market conditions not improved, the company might have delayed even further. Once Upon a Farm filed an updated prospectus in January, offering shares at $17 to $19 each. This pricing suggests a total valuation of approximately $724 million for the enterprise.

Founded in 2015 by Cassandra Curtis and Ari Raz, the company has grown remarkably fast. Net sales surged from $94 million in 2023 to nearly $157 million in 2024. Despite this impressive revenue growth, the company has reported consistent financial losses. Its net loss widened to $39.8 million for the nine months ending September 2025. Analysts view this trajectory as typical for high-growth consumer brands pursuing market expansion.

This IPO serves as a significant litmus test for the broader consumer goods sector. Investor enthusiasm for premium organic brands had diminished amid rising interest in food technology and AI. Once Upon a Farm's successful debut could signal a renewed appetite for traditional CPG investments. The company plans to use the proceeds to repay loans and invest in new equipment. Its products are now sold in over 22,000 stores, including Walmart, Kroger, and Whole Foods.

Comprehension Quiz

Test your understanding of the article with these multiple-choice questions.

1
At what price per share did Once Upon a Farm's IPO close?
2
Which two banks served as lead underwriters for the IPO?
3
Why was the IPO originally delayed from 2025?
4
What was Once Upon a Farm's approximate net sales figure in 2024?
5
What does the article suggest about investor interest in consumer goods brands recently?

Discussion

Answer these comprehension questions about the article.

1
What is the ticker symbol under which Once Upon a Farm trades on the New York Stock Exchange?
2
Why was the company's IPO delayed from its original 2025 timeline?
3
How much money did Once Upon a Farm raise through its initial public offering?
4
What financial challenge does the company face despite its growing revenue?
5
How does the article describe the significance of this IPO for the broader consumer goods sector?

Further Discussion

Share your opinions on these open-ended questions.

1
If you were an investor, would you buy shares in a company that is growing fast but still reporting losses? Why or why not?
2
How important is celebrity involvement in building a consumer brand, and can you think of other examples?
3
What risks might Once Upon a Farm face as a newly public company in the competitive organic food market?
4
If you were advising the company on how to use the IPO proceeds, what would you prioritize and why?
5
Do you think the trend toward organic and premium children's food will continue to grow, or is it a temporary market shift?