Jennifer Garner's baby food company confidentially files for an IPO, sources say
The Berkeley, California-based company has tapped a group of investment banks for the IPO, which could occur as soon as this year, said the sources, who cautioned that the plans could change, depending on market conditions. Goldman Sachs (GS.N), opens new tab and JPMorgan (JPM.N), opens new tab are the lead underwriters, said the sources, who requested anonymity because the plans are confidential.
The offering could value the company at about $1 billion, one of the persons said. Once Upon a Farm did not immediately respond to a request for comment, Goldman Sachs and JPMorgan declined to comment.
Garner is known for her work in the TV drama "Alias" and films including "Dallas Buyers Club" and "Catch Me If You Can." A mother of three, she has said she cares deeply about childhood nutrition, and she grows some produce for Once Upon a Farm on her family's century-old farm in Oklahoma.
Once Upon a Farm was founded in 2015 by Cassandra Curtis and Ari Raz to create more nutritious baby-food options. In 2017, Garner and John Foraker, the former CEO of food brand Annie's, joined the company as co-founders.
The company's products for babies, toddlers and children range from oat bars to cold-pressed pouches and frozen meals, and they are sold in supermarkets across the U.S.
An IPO for the company would build on momentum for market debuts in the U.S., a sector that has lately thawed after the Trump administration's tariff announcements earlier this year cast a chill. So far this year, IPOs listed in the U.S. have raised about $27 billion, down from $41 billion in the same period last year, according to data compiled by Dealogic. But this year's figure is more than in 2022 and 2023, when IPOs raised $22 billion and $24 billion, respectively, over the same time frame, according to Dealogic.
In its Nasdaq debut last week, digital bank Chime (CHYM.O), opens new tab jumped 59%, valuing the company at $18.4 billion. The stock of stablecoin issuer Circle Internet Group (CRCL.N), opens new tab climbed to $103.75 and was halted several times for volatility during a wild first day of trading earlier this month.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
13 minutes ago
- Daily Mail
117-year-old restaurant faces being shut down as inflation fuels second year of closures
Inflation has put a 117-year-old restaurant at risk of closure. Ike's Chili in Tulsa, Oklahoma, survived the Great Depression, two World Wars and the pandemic, but the latest bout of inflation could finally be its downfall. 'The cost of everything's just going up, and we've got to figure out how to manage it right,' managing partner Len Wade told CNN. The spiraling cost of beef has hit the restaurant particularly hard. In July, wholesale beef prices surged 11 percent compared to the same time last year, according to the latest data from the Bureau of Labor Statistics. As well as rising costs, consumers are also eating out less as they try to save money in an uncertain economy. 'I need to raise my prices again right now, but I'm concerned that I'm going to price people out,' Wade told the publication. He said he had considered changing his menu to cut costs on dishes but that it would ultimately damage the quality of the restaurant. Over the last four years food prices have soared 21 percent, according to the Producer Price index. Increased overheads, plus the disruption of the pandemic, led to a raft of high profile closures last year. TGI Fridays fell into bankruptcy, closing around 130 locations. The chain's sales decline accelerated rapidly during the Covid-19 lockdowns in 2020. The restaurant reported further difficulties in 2021, with inflation squeezing the chain as food-away-from-home prices surged, according to the Consumer Price Index. Several other national chains, including Red Lobster, World of Beer Bar & Kitchen, and BurgerFi also filed for Chapter 11 bankruptcy in 2024. Red Lobster also filed for bankruptcy in May last year - days after closing more than 100 restaurants. The casual dining favorite's problems were blamed on rising lease and labor costs in recent years, and its infamous $20 all-you-can-eat shrimp deal that backfired. Ike's Chili survived the Great Depression, two World Wars and the pandemic, but the latest bout of inflation could finally be its downfall (Pictured: The restaurant in 1972) TGI Fridays has closed 130 locations since filing for bankruptcy in 2024 The wine and whisky industries are also suffering from price pressures and consumer pullbacks. Campari-owned Wild Turkey saw an 8 percent decline in US sales during the first half of 2025, while sales of Jack Daniel's dropped 6 percent year-over-year. In January, Jack Daniel's parent company Brown-Forman announced layoffs affecting 12 percent of its workforce and the closure of a major barrel-making facility in Louisville. A host of Kentucky distilleries have also been tipped into bankruptcy. The wine industry is also suffering, with vineyards forced to close and one wholesaler leaving the largest wine market in the country. Texas-based Republic National Distributing has said that it will no longer do business in California after September 2, blaming rising costs of doing business in the state. This sent more than 2,500 drinks brands scrambling to find a new wholesaler and distributor in the state, which is famous in large part for its wine production.
Daily Mail
13 minutes ago
- Daily Mail
Millionaire Big Pharma CEO's deep state fight to 'silence' thousands of Americans who get cancer from household product
Bayer pharmaceuticals' skateboarding, MIT-educated chief executive, Bill Anderson, is under fire after a damning report accused the $60 billion biotech giant of trying to rewrite the law to avoid tens of thousands of cancer lawsuits linked to its Roundup weed killer. Since taking charge in June 2023, Anderson, 58 - who is paid $10 million a year - has promised investors he will 'significantly contain' the legal crisis by 2026.
Reuters
13 minutes ago
- Reuters
Morning Bid: Who's afraid of a hot PPI?
A look at the day ahead in European and global markets from Gregor Stuart Hunter Did you really think that the mighty U.S. stock market was going to be stopped in its tracks by a measly PPI print, even if it was a blowout? Despite the jump in wholesale prices, S&P 500 futures clung to a gain of 0.2% in Asian trading, even as Nasdaq futures slipped for a third consecutive day. The yield on the U.S. 10-year Treasury bond was down 2 basis points at 4.2732%. One consequence of the hot PPI print is that the market has given up on hopes of a jumbo 50 basis point rate cut from the Federal Reserve, according to the CME Group's FedWatch tool. But traders are still pricing in a 92.1% probability of a 25 basis point rate cut at its September meeting, compared with a 100% likelihood of a cut yesterday. In Asia, data from the region's two biggest economies showed Japan's economy running hot last quarter to keep shelves stocked ahead of Donald Trump's tariff deadline, while China indicated renewed signs of slack. Hong Kong stocks (.HSI), opens new tab fell 1.2% after the release of weaker-than-expected Chinese economic data for July including retail sales and industrial production, while the large-cap CSI 300 (.CSI300), opens new tab gained 0.5% as traders speculated that the data may justify extra stimulus. Markets in India and South Korea are closed for public holidays. The Nikkei 225 (.N225), opens new tab rebounded 1.2% after snapping a six-day winning streak on Thursday with its biggest one-day selloff since April 11, as Japanese GDP data showed the economy expanding by an annualised 1.0% in the April-June quarter, beating analyst estimates and providing more signals to the Bank of Japan, which next meets on September 19. The dollar weakened 0.3% against the yen to 147.64 . In commodities markets, Brent crude was down 0.1% at $66.79 per barrel, not far from a two-month low reached on Wednesday, ahead of a meeting in Alaska between U.S. President Donald Trump and Russian leader Vladimir Putin on Friday. "The first meeting doesn't seem like a major market-moving event - it's more to set up a second meeting, which will likely be more important," said Marc Velan, head of investments at Lucerne Asset Management in Singapore. "If a ceasefire is reached, expect a positive reaction in the euro and a weaker dollar; the opposite if a ceasefire fails." Key developments that could influence markets on Friday: EU data: Euro zone reserve assets for July UK debt auctions: Reopening of 1-month, 3-month and 6-month government debt auctions
