Pet food company Open Farm prepares for Toronto IPO, sources say

Published: 2026-04-29 13:34:33 ET RY.TO

Published on 04/29/2026 at 01:34 pm EDT

NEW YORK, April 29 (Reuters) - Canadian pet food company Open Farm is preparing for an initial public offering on the Toronto Stock Exchange that could come as soon as this year, according to three people familiar with the matter.

The company, which counts General Atlantic and Encore Consumer Partners as minority investors, is working with investment banks including Goldman Sachs and RBC for the listing, the people said, requesting anonymity to discuss private information.

Open Farm, Goldman and RBC declined to comment.

The Canadian company would be joining a growing group of consumer and retail companies looking for an IPO window soon. Global beauty company Wella, retailer Tailored Brands, collision repair company Caliber Collision, and restaurant chains Jersey Mike's and Inspire Brands are all working towards public listings.

Open Farm, which makes dry and fresh food, treats and supplements for dogs and cats, generates over $250 million of annual sales, the sources said.

The premium pet food market has exploded as consumers continue to spend top dollar on their pets. Many have stayed privately owned, such as Ollie, which family-owned conglomerate Agrolimen bought last year, or The Farmer's Dog. However, Freshpet went public in 2014 and has a roughly $3.2 billion market capitalization.

Open Farm's founders Jacqueline Prehogan, Isaac Langleben and Derek Beigleman launched the business in 2014 to make ethically raised and sourced pet food. The Toronto-based company raised $65 million in its last fundraising round in 2021, led by General Atlantic.

(Reporting by Abigail Summerville in New York, editing by Echo Wang and Tomasz Janowski)

By Abigail Summerville