AeroFarms, an indoor vertical farming company and the leading U.S. supplier of fresh microgreens, was acquired by an affiliate of Palm Ventures. 

Under the new ownership, Gustavo Burger, whose prior experience includes leadership roles at Kraft Heinz and Anheuser-Busch InBev, now leads a new management team as chief executive officer. 

The partnership significantly reduces AeroFarms' debt, prioritizes sustainable growth and long-term profitability, while deepening customer relationships, continuing to grow consumer-favorite microgreen varieties and preserving AeroFarms' Certified B mission. Specific terms of the deal were not disclosed.
 
 Available in more than 2,000 locations nationwide, the acquisition will help fuel expanded distribution. 

The company's microgreens are grown on a vertical farm in Danville, Virginia, using 230 times less land and 90% less water than traditional field farming. 

"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."

About AeroFarms
 AeroFarms is an indoor vertical farming company that leads U.S. production of fresh microgreens. AeroFarms' products naturally contain exceptional concentrations of vitamins, antioxidants, and phytonutrients for consumers seeking nutrient-dense foods. At the forefront of sustainable agriculture, AeroFarms leverages patented aeroponics technology, automated conveyance systems, and robotics to cultivate healthy microgreens that thrive. AeroFarms is climate-agnostic, growing plants year-round, regardless of geography and weather conditions. The company's vertical farm uses 230 times less land and 90% less water than traditional field farming. A Certified B Corporation, AeroFarms is dedicated to meeting rigorous standards of social and environmental performance.