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Feb 2, 2026 4:24 AM

Jennifer Garner's Baby Food Startup An Acquisition 'Play,' Say Analysts Ahead of $208 Million IPO

Hollywood actress Jennifer Garner’s organic baby food company, Once Upon A Farm, is being viewed as an acquisition “play” by analyst Bennett Cheer of Hedgeye Risk Management, ahead of the company’s initial public offering.

The Acquisition ‘Playbook’

Speaking on “The Call” podcast by Hedgeye on Wednesday, Cheer highlighted CEO John Foraker’s track record, having previously run another organic food brand, Annie’s Homegrown, which was acquired by General Mills Inc. (NYSE:GIS) in 2014.

Cheer expects a similar “playbook” here, “build it up, grow it fast, and then eventually get bought,” he said, hinting at a potential acquisition by a bigger consumer products company.

He also added that the company’s potential ...