Jennifer Garner's Once Upon a Farm IPOs on NYSE, shares pop 17% at $724M valuation

Summary

Once Upon a Farm, the organic children's food brand co-founded by Jennifer Garner, IPO'd on the New York Stock Exchange under ticker OFRM. The offering raised $197.9 million at a $724 million valuation, and shares jumped 17% on debut.

The public market reception reflects momentum in better-for-you food. Policymakers and shoppers have pushed back against ultra-processed foods marketed to children, creating tailwinds for the clean-label segment. Cavu Consumer Partners, led by Rohan Oza, was a major backer and stands to see significant returns from the pop. Cavu just closed a new $325 million fund focused on better-for-you food and beverage brands, positioning the firm to capitalize on category momentum.