AEROFARMS ACQUIRED BY AN AFFILIATE OF PALM VENTURES, POSITIONS U.S. MICROGREENS LEADER FOR EXPANDED DISTRIBUTION AND LONG-TERM GROWTH

Mission-aligned ownership and new leadership will increase access to sustainably grown microgreens

DANVILLE, Va., June 11, 2026 /PRNewswire/ -- AeroFarms, an indoor vertical farming company and the leading U.S. supplier of fresh microgreens, today announced its acquisition by an affiliate of Palm Ventures, an Austin and Greenwich-based family investment office with a 30-year track record of successfully building profitable, durable, mission-driven businesses. The transaction was completed in April 2026. 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.

Palm Ventures, founded and led by Bradley Palmer, invests patient, long-duration capital in businesses where operational excellence and mission reinforce each other. Its investment in AeroFarms was rooted in Palm Ventures' conviction in the agribusiness's proprietary aeroponic platform, the company's strong retail market share in a category with double-digit growth rates, and the powerful consumer shift toward nutrient-dense, sustainably grown, clean-label foods that have the potential to offer functional nutrition to support lifestyles and weight management, accelerated by increasing use of GLP-1 medications among consumers.

"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 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."

Gustavo Burger joined AeroFarms as chief executive officer in April 2026 and brings more than two decades of senior leadership experience across global food and beverage businesses, including leadership roles at Kraft Heinz and Anheuser-Busch InBev, driving growth and operational performance with major retail and foodservice partners.

"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," said Burger, chief executive officer at AeroFarms. "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."

A Certified B Corporation™, AeroFarms leads the microgreens category in supply and sustainable practices. The company's microgreens are grown indoors in a controlled environment without soil or pesticides and consistently deliver four to forty times higher levels of select vitamins, minerals, and phytonutrients compared to their mature vegetable counterparts*, depending on the variety. AeroFarms' proprietary growing process also ensures an 18-21-day shelf life, significantly longer than that of soil-grown microgreens, which typically last 7 days or less¹. AeroFarms products are ready to eat without washing and are currently available in about 2,000 retail locations nationwide.

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. Learn more about our mission and microgreens at www.aerofarms.com.

ABOUT PALM VENTURES
Established in 1992, Palm Ventures is the Greenwich and Austin-based investor of Brad Palmer's family capital that acquires mission-driven companies across multiple industry sectors and lifecycle stages. We provide intellectual, relational, and patient, long-term financial capital to our portfolio companies, unlocking growth. Palm's family capital frees us from short-term thinking, enabling an unconstrained approach to building impactful companies that address significant problems facing human and planetary health. For more information, visit www.palmventures.com.  

1. Science Direct, "Emergence of microgreens as a valuable food, current understanding of their market and consumer perception: A review." October 30, 2024.

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SOURCE New AeroFarms Inc