NEW YORK: Once Upon a Farm PBC, the organic baby food company co-founded by actress Jennifer Garner, has filed for an initial public offering or IPO in the United States, joining a list of firms moving ahead with a public listing.
The Berkeley, California-based company had a net loss of US$28.5mil on revenue of US$110.6mil in the six months through June 30, compared with a net loss of US$4.2mil on revenue of US$65.8mil in the corresponding period in 2024, according to its filing with the US Securities and Exchange Commission.
The company 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 2015 when co-founder Cassandra Curtis and Ari Raz created recipes that focused on organic and real food, according to the filing.
Garner and former Annie’s chief executive officer John Foraker joined in 2017.
Its pouches had accounted for the majority of net sales, the filing showed. Coolers stocked with the company’s products are in over 2,800 stores including Target, Whole Food and Kroger.
Proceeds from the offering are earmarked for purposes including helping repay outstanding borrowing under a revolving credit facility and purchasing new equipment. — Bloomberg
