Once Upon a Farm, which produces organic baby food, announced terms for its IPO on Monday.
The Berkeley, CA-based company plans to raise $198 million by offering 11.0 million shares (31% secondary) at a price range of $17 to $19. At the midpoint of the proposed range, Once Upon a Farm would command a fully diluted market value of $811 million.
The company produces organic, refrigerated food products for babies and children, with a core line of cold-pressed pouches, as well as oat bars, dry snacks, and frozen meals, designed for convenient, on-the-go use. Its products are distributed both through retailers and online, with placement in over 3,200 stores and 40% of sales volume from online.
Once Upon a Farm was founded in 2015 and booked $202 million in sales for the 12 months ended June 30, 2025. It plans to list on the NYSE under the symbol OFRM. Goldman Sachs, J.P. Morgan, BofA Securities, William Blair, Barclays, Evercore ISI, Deutsche Bank, Oppenheimer & Co., and TD Cowen are the joint bookrunners on the deal. It is expected to price during the week of February 2, 2026.
