"Once Upon a Farm PBC, the organic kids snacks maker co-founded by actress Jennifer Garner, and some of its investors raised $197.9 million in an initial public offering that priced at the midpoint of its marketed range. The Berkeley, California-based company and the selling shareholders sold shares for $18 each, according to a statement Thursday confirming an earlier Bloomberg News report. The company sold about 7.6 million shares and the selling holders priced around 3.4 million shares."
"Once Upon a Farm had a net loss of $39.8 million on revenue of $176.7 million for the nine months ended Sept. 30, compared with a net loss of $11.6 million on revenue of $107.6 million in the corresponding period in 2024, its filing shows. Gross margin for the first nine months of 2025 was 40%, down from 42% in the year ago period. Its pouches have accounted for the majority of net sales, the filing shows."
The company raised $197.9 million in an initial public offering priced at $18 per share, selling about 7.6 million company shares and around 3.4 million shares from selling holders. The IPO valued the firm at about $724 million based on outstanding shares and was marketed at $17 to $19 per share; demand was double-digits oversubscribed. Product offerings include premium-priced, no-sugar-added organic refrigerated fruit and vegetable pouches, bars, frozen meals and smoothie packets. The business began in 2015 and added Jennifer Garner and John Foraker in 2017. For the nine months ended Sept. 30, the company reported a net loss of $39.8 million on $176.7 million revenue and a 40% gross margin.
Read at www.mercurynews.com
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