Jennifer Garner Keeps Once Upon A Farm Focused on Retail and WIC After NYSE Debut

Once Upon A Farm's First Six Months After the NYSE Bell

Jennifer Garner rang the opening bell at the New York Stock Exchange in February as Once Upon A Farm, the Berkeley-based organic children's food company she co-founded nearly a decade ago, completed its initial public offering. The IPO valued the business at $724 million. The stock gained 17% on its first day, but it has since slipped around 15% year-to-date, a move Garner says she has no interest in tracking. "People underestimate my discipline," she told Forbes.

The underlying business is growing faster than the share price narrative might suggest. Once Upon A Farm reported trailing 12-month revenue of $288 million and second-quarter revenue of $85.4 million, up about 17% from the first quarter. Garner, the largest individual shareholder with a 7% stake worth about $55 million, frames the IPO as a lever that has added many new households to the brand's customer base.

The company's pitch combines organic, refrigerated children's food with a social mission. Products now reach more than 25,000 stores, including more than 480 Sprouts Farmers Market locations, and the brand has WIC certification in more than 20 states. Garner, a mother of three, co-founded the company in 2017 with original founders Cassandra Curtis and Ari Raz and industry veteran John Foraker, who became CEO.

Why Garner Is Treating the Post-IPO Period as a Retail and Mission Push

Repeat purchases matter more than the daily quote

Garner's decision to ignore OFRM's share price is not just personal discipline; it points to the metric that has historically determined the brand's shelf space. A year after she joined, a major retailer told the company it planned to cut Once Upon A Farm from 14 products to five and from more than 1,000 stores to roughly 500 because repeat purchase rates were weak. That moment, which Garner described as her "first punch in the face" in consumer goods, explains why current growth is best judged by repurchase behavior and retailer commitment rather than short-term stock moves.

WIC certification is both mission and distribution

The priority Garner names most often is expanding WIC certification beyond the current 20-plus states. If the brand can clear state-level program requirements, it gains access to low-income families who otherwise may not afford organic children's food. That makes WIC a social objective and a structural sales channel, one that could reduce the brand's dependence on premium grocery shoppers alone.

The Garner brand creates reach and concentration risk

Garner's fame, built through film, television and long-running ad campaigns for Capital One and Neutrogena, gives Once Upon A Farm visibility that few food startups can buy. Forbes estimates she has earned at least $125 million during her career, and her 7% stake ties a meaningful part of her public identity to the company. At the same time, the brand is unusually dependent on a single celebrity founder. Garner says she avoids tabloid scrutiny for the same reason she avoids checking the stock price; the company's reputational exposure is tied to her own.

Foraker and retail relationships are the post-IPO playbook

CEO John Foraker, who previously took Annie's public and then sold it to General Mills, is now pairing Garner's star power with retail execution. The article notes upcoming visits to Bentonville, Austin, Cincinnati and Minneapolis, the sort of retailer-hub trips that signal a push for shelf space and partnership commitments. Sprouts CEO Jack Sinclair, a longtime mentor, has advised Garner to use the IPO to stay close to what made the company successful rather than becoming overly corporate, building a strong team, evolving the product portfolio and pushing supply-chain improvements.

What Once Upon A Farm's Management and Investors Should Track Next

For investors and the company's management, the next few quarters will test whether the post-IPO strategy can convert retail relationships and mission-driven distribution into sustained revenue growth.

• Watch whether the roughly 17% sequential revenue growth from Q1 to Q2 is maintained in the next quarterly report, using the $85.4 million base as the near-term benchmark.
• Track WIC certification beyond the existing 20-plus states; each additional state expands access to low-income households and reduces reliance on premium grocery demand.
• Read Garner's scheduled retail visits to Bentonville, Austin, Cincinnati and Minneapolis as a test of shelf-space retention and new distribution commitments, especially after a retailer earlier proposed cutting the brand from 14 SKUs to five.
• Separate the roughly 15% year-to-date share decline from operating performance; management's own focus is on repeat purchase rates, which are not yet disclosed as a standard metric.
• Competitors and retail buyers should monitor the multi-year Angel City Football Club kids' snack sponsorship as a targeted marketing channel aimed at family audiences.