Jennifer Garner reportedly could attain billionaire status as the actor makes significant strides in the world of business. As reported by Reuters, the organic baby food company, Once Upon a Farm, co-founded by the “Elektra” actor, has allegedly filed confidentially for an initial public offering. It took place in New York.
According to the news outlet, “sources” have claimed that the company has reportedly drawn an investment bank group for the alleged initial public offering or IPO. One of the “sources” has said that the IPO could value Garner’s company at approximately $1 billion.
Jennifer Garner organic baby food company could be huge: Report
Jennifer Garner’s organic baby food company, Once Upon a Farm, could reportedly become huge and land the actor in the billionaire club. Per Reuters, “sources” informed them that the company allegedly approached investment banks for an initial public offering, which could take place soon, even this year. The “insiders” also reportedly cautioned that the plans could change, depending on market conditions.
According to the “sources,” the lead underwriters are reportedly JPMorgan (JPM.N) and Goldman Sachs. The big organizations have allegedly requested anonymity due to the plan’s confidentiality.
One of the “insiders” went on to claim that the offering regarding Jennifer Garner’s organic baby food company could be valued at about $1 billion. However, neither the actor nor her company, Once Upon a Farm, have commented on the matter. Goldman Sachs and JPMorgan also refrained from commenting on the business matter.
Ari Raz and Cassandra Curtis founded Once Upon a Farm in 2015. Their main purpose for establishing the company was to create more options for nutritious baby food. The former CEO of food brand Annie’s, John Foraker, joined the company as a co-founder back in 2017. The same year, actor Jennifer Garner also joined the company as another co-founder.