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Grove Collaborative Announces Asset Purchase Agreement with Grab Green

1. Grove Collaborative acquired Grab Green to enhance eco-friendly cleaning products. 2. The acquisition aligns with Grove’s mission for sustainable consumer products. 3. Grab Green has a loyal customer base and innovative cleaning solutions. 4. Co-founders will join Grove to support integration and product development. 5. The deal strengthens Grove's market position in the sustainable products space.

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FAQ

Why Bullish?

The acquisition enhances Grove's product lineup and market position, similar to past successful acquisitions in the sector.

How important is it?

The acquisition is crucial for GROV's growth strategy, impacting future earnings and brand strategy significantly.

Why Long Term?

This strategic acquisition will likely boost sales and market presence over time, akin to Grove's historic growth trajectory after previous partnerships.

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GRABCLEANSGRSustainable Brands
SAN FRANCISCO--(BUSINESS WIRE)--Grove Collaborative Holdings, Inc. (NYSE: GROV) (“Grove” or “the Company”), the world’s first plastic neutral retailer, a leading sustainable consumer products company, certified B Corporation, and Public Benefit Corporation, today announced it has completed the purchase of substantially all of the assets of eco-friendly, effective cleaning products pioneer Grab Green. This strategic acquisition underscores and reaffirms Grove’s mission to make consumer products a force for environmental and human good while strengthening the Company’s position as a leader in home cleaning. “Grab Green has been a trailblazer in creating safe, sustainable, and effective cleaning products that align perfectly with Grove’s mission of reducing the environmental impact of everyday household essentials,” said Jeff Yurcisin, CEO of Grove Collaborative. “This acquisition represents an exciting opportunity to scale our collective impact, bringing even more innovative and eco-friendly solutions to consumers while continuing to raise the bar for sustainability in our industry.” Grab Green, known for its innovative, naturally-derived cleaning products and commitment to environmental stewardship, has built a loyal customer base through its thoughtfully formulated solutions that deliver excellent cleaning performance without compromising health or the planet. The mission alignment between Grab Green and Grove makes this a strategic next step for both companies, building on a longstanding partnership. Grab Green became a third-party vendor of Grove starting in 2019, and has been a top brand for growth and performance in both sales and share due to its beloved laundry and specialty cleaning products. The Grab Green product lineup, which includes laundry detergents, dishwashing pods, and multipurpose cleaners, complements Grove’s existing portfolio of sustainable offerings. “We are thrilled to join forces with Grove Collaborative, a company that shares our dedication to creating products that are safe for people and the planet,” said Patricia Spencer, co-founder of Grab Green. “Together, we can inspire more households to make sustainable choices and provide them with the high-performance solutions they need.” “This collaboration marks a new chapter for Grab Green, one where we can reach more homes and have an even greater environmental impact,” added Michael Edell, co-founder of Grab Green. “With Grove’s extensive platform and shared values, we are confident that this partnership will amplify our ability to innovate and lead the charge in sustainable home care.” Co-founders Patricia Spencer and Michael Edell will join Grove in advisory roles, helping oversee integration and ongoing product development. Grab Green products will continue to be available through Grove Collaborative’s online platform as well as Amazon, ensuring consumers can continue to access their trusted products nationwide. For more information, visit www.grove.co. About Grove Collaborative Grove Collaborative Holdings, Inc. (NYSE: GROV) is the one-stop online destination for sustainable everyday essentials. Driven by the belief that changing the world starts with what you bring into your home, Grove creates and curates household cleaning, personal care, health and wellness, laundry, clean beauty, baby, and pet care products from over 280 brands that help you Go Beyond Plastic. Everything Grove sells meets a higher standard — from ingredients to performance to packaging and environmental impact — so you get a great value without compromising your values. With Grove, you can see, track, and celebrate your sustainable choices. Be a force of nature at Grove.com. About Grab Green Grab Green creates healthy lifestyle consumer products that provide natural alternatives to traditional products. Grab Green has more than 100 products in the household cleaning and personal care category. Grab Green’s philosophy is creating products that do no harm to people, planet, or pets without sacrificing efficacy.

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