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New Deal


Announced

Completed

Grove Collaborative went public via a SPAC merger with Virgin Group Acquisition II in a $1.5bn deal.

Financials

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Transaction Value£1,132m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Synopsis

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Grove Collaborative, a sustainable consumer products company, went public via a SPAC merger with Virgin Group Acquisition II in a $1.5bn deal. The investors included Lone Pine Capital, Sculptor Capital Management, General Atlantic and Paul Polman. “In going public, we sought a partner that shares our passion for using business to answer the urgent environmental crisis, and that accelerates our vision to make consumer products a positive force in human and environmental health,” Stuart Landesberg, Grove Co-Founder and CEO.

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