Taste Radio

A $198M IPO & The 'Healthy' Divide. Is CPG Changing?


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Once Upon a Farm is officially public — and it could mark a turning point for better-for-you brands. In this episode, the hosts break down the baby food company's $198 million IPO, what its $724 million valuation signals for the CPG landscape, and why going public may be emerging as a viable alternative to traditional acquisition. Is this the start of a new era for mission-driven food brands looking to scale on their own terms?

Plus, they dig into the growing battle over how "healthy" gets defined at retail. Kroger adopted FoodHealth's nutrient scoring system, which aims to guide shoppers with a balanced approach to nutrient density and ingredient quality. Meanwhile, the Non-GMO Project's stricter Non-UPF Verified certification draws a hard line against processed oils, gums, and natural flavors. Are these systems complementary, competitive, or just confusing?

Show notes:

0:23: Fiber Bowl. AMA In MIA. OFRM's IPO. UPF, Maybe Or No? A Burst Of Mayo, Protein & Powder. – The hosts kick things off with lighthearted Super Bowl banter and a recap of their game-day food spreads before previewing the upcoming Taste Radio Miami Meetup at Casa La Rubia on Feb. 18. The team highlights event features including live podcast interviews, networking, brand sampling, and a new "Ask Me Anything" table hosted by Atomos Strategic Marketing, encouraging founders and industry professionals to attend. The conversation then shifts to industry news, notably Once Upon a Farm's IPO, which raised $198 million and valued the baby and kids food brand at over $724 million. The hosts discuss the rarity of successful CPG IPOs, the tradeoffs between going public and selling to a strategic buyer, and what the move could signal for other better-for-you brands. From there, they explore evolving nutrition standards, comparing FoodHealth's nutrient scoring system with the stricter Non-UPF Verified certification from the Non-GMO Project, touching on hot-button topics like processed oils, natural flavors, and consumer education. The episode also features commentary on innovative products such as Graza's olive oil mayonnaise strategy, protein soda from Joyburst, protein-enhanced fruit spreads from BamJam, and the straightforward drink mix brand Fave.

Brands in this episode: Royo Bread, Once Upon a Farm, Annie's, Vita Coco, Bai, Graza, Koia, Joyburst, BamJam, Drippy, Dappie, Fave, BTR Nation, Cadence, Spindrift, Duke's

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