S22E11: Jennifer Garner’s IPO Bet on Once Upon a Farm
Sun Feb 08 2026
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Once Upon a Farm went public, and the stock jumped. But this isn’t the standard path for a consumer brand.
In this episode of Market Outsiders, Jenny Rae and Namaan examine why a single-brand baby food company chose an IPO instead of selling to a large CPG player - and what role Jennifer Garner’s involvement really plays in that decision.
We break down the business fundamentals behind the headlines, from refrigerated supply chains to retailer economics, and question how much of the early momentum can translate into long-term scale.
The episode closes with what comes next - and whether this business is built to stay public.
We cover:
Why this IPO breaks the usual consumer brand playbookThe real economics behind refrigerated, organic consumer productsHow celebrity-backed trust does - and doesn’t - scale over timeA clear-eyed look at IPO strategy, consumer economics, and where this bet could break.
Chapters:
00:00 – Why This IPO Is Different02:30 – What Is Once Upon a Farm?05:20 – The Jennifer Garner Effect09:10 – Refrigerated Food Economics13:40 – Retail Shelf Space and Margins17:30 – Why IPO Instead of Selling21:40 – Losses, Growth, and Valuation25:40 – How This Business Scales29:40 – What Comes NextConnect With Management Consulted
Schedule free 15min consultation with the MC Team. Watch the video version of the podcast on YouTube! Follow us on LinkedIn, Instagram, and TikTok for the latest updates and industry insights! Join an upcoming live event - case interviews demos, expert panels, and more. Email us (team@managementconsulted.com) with questions or feedback.
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Send us a text Once Upon a Farm went public, and the stock jumped. But this isn’t the standard path for a consumer brand. In this episode of Market Outsiders, Jenny Rae and Namaan examine why a single-brand baby food company chose an IPO instead of selling to a large CPG player - and what role Jennifer Garner’s involvement really plays in that decision. We break down the business fundamentals behind the headlines, from refrigerated supply chains to retailer economics, and question how much of the early momentum can translate into long-term scale. The episode closes with what comes next - and whether this business is built to stay public. We cover: Why this IPO breaks the usual consumer brand playbookThe real economics behind refrigerated, organic consumer productsHow celebrity-backed trust does - and doesn’t - scale over timeA clear-eyed look at IPO strategy, consumer economics, and where this bet could break. Chapters: 00:00 – Why This IPO Is Different02:30 – What Is Once Upon a Farm?05:20 – The Jennifer Garner Effect09:10 – Refrigerated Food Economics13:40 – Retail Shelf Space and Margins17:30 – Why IPO Instead of Selling21:40 – Losses, Growth, and Valuation25:40 – How This Business Scales29:40 – What Comes NextConnect With Management Consulted Schedule free 15min consultation with the MC Team. Watch the video version of the podcast on YouTube! Follow us on LinkedIn, Instagram, and TikTok for the latest updates and industry insights! Join an upcoming live event - case interviews demos, expert panels, and more. Email us (team@managementconsulted.com) with questions or feedback.