The Globe and Mail reports in its Thursday edition that Open Farm, a Toronto-based pet food company that has been growing rapidly over the past 12 years, is delaying its initial public offering until the fall. The Globe's Tim Kiladze writes that Open Farm made its name producing pet food that is ethically and sustainably sourced as the pet sector boomed. Open Farm hired bankers for its IPO with hopes of raising between $300-million and $400-million and launching as early as June. Early feedback from institutional investors suggested they wanted some time to digest the choppy markets, and to also see how consumer spending shakes out. Recent consumer-driven IPOs in the United States from companies such as Suja Life Inc., which makes organic cold-pressed juices, and Once Upon A Farm, which makes "clean" baby food and kids snacks, have had volatile share price performances this year. In Canada, the recent performance of Pet Valu Holdings Ltd., which operates pet stores across the country, has also weighed on investors. Although it is not a directly comparable business to Open Farm, it is in the same broad sector and Pet Valu's shares are down 46 per cent over the past year because consumers have pulled back on spending.