Indoor vertical farming specialist appoints new management team led by former Kraft Heinz and AB InBev executive Gustavo Burger
Indoor vertical farming company and fresh microgreens supplier AeroFarms has been bought by “an affiliate” of family-run investment vehicle Palm Ventures.
AeroFarms filed for Chapter 11 bankruptcy in 2023 and has since had to shelve plans for expansion into markets outside the US, focusing primarily on production out of its commercial farm in Danville, Virginia.
Reports suggest a second facility in Newark, New Jersey, remains operational but is not used for anything except R&D activities.
In a statement, the copmpany revealed that its acquisition by Palm Ventures was completed in April 2026.
The group said it also had a new management team, led by chief executive officer Gustavo Burger, whose prior experience includes leadership roles at Kraft Heinz and Anheuser-Busch InBev.
The partnership is understood to have reduced AeroFarms’ debt “significantly” and will focus on sustainable growth and long-term profitability in microgreens. Specific terms of the deal were not disclosed, however.
“AeroFarms is exactly the kind of mission-driven company we bring our intellectual, relational, and financial capital to; a disciplined business with first-class retail customers, superior technology, and a mission that matters,” said Bradley Palmer, chairman and founder of Palm Ventures.
“Consumers are choosing foods that naturally pack higher nutritional value into every bite. Gustavo Burger brings decades of world-class experience, and our job is to support his team as they deliver on that promise. AeroFarms is ready for what’s next.”
Burger commented: “AeroFarms is built on the most advanced aeroponic platform in the food industry, a category-defining product, and retail partnerships with the best names in the business.”
He added: “My focus is to build on that foundation with the operational rigor it deserves, and create a business that performs as well as its products. We are grateful to our employees, customers, and the local Virginia community for their support in reaching this new chapter.”
