Grove Collaborative Holdings, Inc. reports recurring updates on its sustainability-oriented consumer products business, which sells household cleaning, personal care, health and wellness, laundry, clean beauty, kitchen, pantry, kids, baby, and pet products through a direct-to-consumer online platform and mobile applications.
Company news commonly covers quarterly and annual results, net revenue trends, Adjusted EBITDA, advertising spend, customer acquisition efficiency, ecommerce platform stabilization, mobile app updates, and customer-retention initiatives. Product and partnership announcements also include curated sustainability-focused collections such as The Unplastic Shop, Grove Green Rewards, and disclosures tied to Grove's certified B Corporation and public benefit corporation status.
Grove Collaborative, Inc. and Virgin Group Acquisition Corp. II have successfully completed their business combination, with shares trading under the ticker GROV on the NYSE starting June 17, 2022. The merger was approved by VGII shareholders on June 14, 2022, and includes an $86 million PIPE investment from various investors. Grove aims to enhance its sustainable product offerings and capitalize on the increasing consumer demand for eco-friendly products, positioning itself for long-term growth.
Virgin Group Acquisition Corp. II (VGII) will hold a special meeting on June 14, 2022, to vote on its merger with Grove Collaborative, a certified B Corp and sustainable consumer products company. The meeting location is at Davis Polk & Wardwell LLP in New York and will be available online. VGII shareholders as of April 25, 2022, are eligible to vote, with the transaction expected to close promptly after approval. Upon completion, VGII will rebrand as Grove Collaborative Holdings, Inc., trading under GROV and GROV.WS.