A company with a location in Danville has been purchased and it will allow them to stay in business. Aerofarms has been purchased by an affiliate of Palm Ventures.

Since late 2025, Aerofarms has been facing the possibility of having to close its Danville location after losing its lead investor. The acquisition occurred in April.

As a part of the move, a new management team has been put in place and is being led by chief executive officer Gustavo Burger, who previously held key positions at Kraft Heinz and Anheuser-Busch InBev. The acquisition reduces Aerofarms debt and will focus on long term profitability.

The acquisition will allow over 100 employees at the Danville location to keep their jobs.

AeroFarms officially opened its 140,000 square foot Danville facility in September of 2022 at Cane Creek Centre in Ringgold. It was the world’s largest aeroponic smart farm at the time it opened.