Grove Collaborative

Grove Collaborative is a benefit corporation headquartered in San Francisco. The company is an e-commerce retailer that sells natural household and personal care beauty products.

Grove Collaborative
TypePrivate
IndustryE-commerce
Founded2012 (2012)
FounderStuart Landesberg
Headquarters
San Francisco
,
U.S.
Area served
World
Key people
Stuart Landesberg (Chief Executive Officer)
Number of employees
500 to 600[1]
Websitewww.grove.co

Grove Collaborative makes and sells its own environmentally friendly[2] home and personal care beauty products, as well as those of third-party companies.[3][4]

History

The company was founded in 2012 by CEO Stuart Landesberg under the name ePantry. In 2016, it was rebranded as Grove.[3]

In 2021, Grove Collaborative had pledged to be plastic-free by 2025.[5][6] It partnered with Plastic Bank and rePurpose Global to collect and recycle ocean-bound plastic to offset its plastic footprint.[5]

On April 18, 2021, Grove began a brick-and-mortar partnership with nationwide retailer Target Corporation, which carries some of its products.[7][5]

In December 2021, Grove Collaborative merged with a special purpose acquisition company backed by Sir Richard Branson’s Virgin Group. [2] Unilever PLC’s CEO, Paul Polman has been named as a partner in the venture. Landesberg will continue to lead Grove. The merger includes taking the company public, which is valued at $1.5 billion. The combined company will be listed under “GROV” on the New York Stock Exchange.[3]

As of the end of 2021, Grove raised $436 million in capital.[4] In association with the December 2021 merger, $87 million would be raised in a private investment in public equity. The Virgin Group SPAC trust would provide an additional $348 million.[3][8]

Grove has offices in San Francisco, Portland, Maine, and Durham, North Carolina.[1]

References
  1. Ohnesorge, Lauren (26 October 2018). "Bay area startup taps Durham over Atlanta, Austin for engineering hub". Triangle Business Journal. Retrieved 23 January 2022.
  2. Halon, Yale (8 December 2021). "Richard Branson talks $1.5B NY IPO deal with Grove Collaborative: 'It's going to change business'". Wall Street Journal. Retrieved 23 January 2022.
  3. Chin, Kimberly (8 December 2021). "Richard Branson-Backed SPAC Takes Grove Collaborative Public". Fox Business. Retrieved 23 January 2022.
  4. Anderson, Deonna (29 April 2021). "How e-commerce retailer Grove Collaborative will go 'plastic-free' by 2025". GreenBiz. Retrieved 23 January 2022.
  5. Raczkafirst=Rachel Kim (19 April 2021). "Grove Collaborative's eco-friendly cleaning products are now at Target". Fast Company. Retrieved 23 January 2022.
  6. O’Donnell, Grace (15 July 2021). "Recycling alone isn't enough to solve the plastic crisis, CEO explains". Yahoo Finance. Retrieved 23 January 2022.
  7. Porter Jr., Gerald (13 April 2021). "Cleaning Startup Valued Above $1 Billion Inks Deal With Target". Bloomberg. Retrieved 23 January 2022.
  8. "Grove Collaborative to go public via $1.5 bln deal with Branson-backed SPAC". Reuters. 2021-12-08. Retrieved 2022-02-17.
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