Meet Once Upon a Farm: The company looking to disrupt the organic baby food market

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Once Upon a Farm (OFRM [https://seekingalpha.com/symbol/OFRM]) is going public in an IPO that is expected to value the organic baby food company at close to $1 billion. The company has not yet disclosed the number of shares being offered or the expected pricing range.

In its SEC filing, Once Upon a Farm (OFRM [https://seekingalpha.com/symbol/OFRM]) said its success in developing nutritious food that kids love and parents feel good providing has resulted in a remarkable growth trajectory. The company has surpassed $285 million of in-store retail sales, according to management estimates, and is the top brand driving dollar growth in the categories it competes in for the 52 weeks ended June 15, 2025. Once Upon a Farm's (OFRM [https://seekingalpha.com/symbol/OFRM]) products are available in the aisles where parents frequently shop and are sold in more than 20K doors nationwide across U.S. Multi-Outlet and the Natural Expanded channel. The company said it has strong relationships with well-known retailers, both in brick-and-mortar stores and e-commerce.

"Our playbook is effective as we unlock incremental traffic and growth in the aisles our products are presented in, and our velocities have remained best-in-class as our distribution has expanded. Retailers value this given that we help attract larger basket shoppers and generate better margin outcomes."

Once Upon a Farm was founded in 2015 by Cassandra Curtis and Ari Raz, inspired by Curtis’s desire to create wholesome, convenient baby food that matched the quality she prepared at home for her child. The freshly made, cold-pressed recipes quickly attracted attention, leading to a partnership with John Foraker, former CEO of Annie’s, and actress Jennifer Garner, who boosted the company’s public profile and supported its mission.

To support aggressive growth across retail and direct-to-consumer platforms, strategic investments have been crucial to the company. A notable event occurred in 2021, when Once Upon a Farm acquired Raised Real, incorporating frozen organic meals into its offerings and further diversifying its reach. In 2022, Once Upon a Farm (OFRM [https://seekingalpha.com/symbol/OFRM]) closed a $52 million Series D funding round led by CAVU Venture Partners, with S2G Ventures, Cambridge, and Beechwood among continuing investors. In 2024 and 2025, Once Upon a Farm (OFRM [https://seekingalpha.com/symbol/OFRM]) entered the dairy category with A2/A2 milk-based shakes and smoothies and launched refrigerated protein bars and a new suite of toddler snacks, including Smart Wheels, Belly Blends, and Smoothie Melts.

Looking ahead, Once Upon a Farm (OFRM [https://seekingalpha.com/symbol/OFRM]) indicated that one of the most exciting opportunities ahead for it is the opportunity to broaden its cooler installations and presence in the baby aisle, which is traditionally home to only shelf-stable products. Growth plans include broadening product offerings into new categories such as dairy-free smoothies and oat-based meals to address evolving consumer preferences and increase household reach. The company has also indicated that it is deepening direct-to-consumer engagement, as well as exploring health-focused brand partnerships to extend its market footprint.

Some of the companies that Once Upon a Farm competes with to varying degrees include Hain Celestial Group (HAIN [https://seekingalpha.com/symbol/HAIN]), Nestlé S.A. (OTCPK:NSRGY [https://seekingalpha.com/symbol/NSRGY]) (OTCPK:NSRGF [https://seekingalpha.com/symbol/NSRGF]), Danone (OTCQX:DANOY [https://seekingalpha.com/symbol/DANOY]) (OTCQX:GPDNF [https://seekingalpha.com/symbol/GPDNF]), and Reckitt Benckiser Group plc (OTCPK:RBGPF [https://seekingalpha.com/symbol/RBGPF]) (OTCPK:RBGLY [https://seekingalpha.com/symbol/RBGLY]).

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