Grove Collaborative, Inc. (“Grove” or “the Company”), a
certified B Corp™ and leading sustainable consumer products
company, today announced Sergio Cervantes has joined the Company as
Chief Financial Officer.
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Cervantes comes to Grove with significant financial executive
experience in global consumer products, including 18 years with
Unilever and four years at Gillette. During the past six years,
Cervantes served as CFO of Murad, a high-end skin-care brand that
was acquired by Unilever in 2015. At Murad, Cervantes led the
post-acquisition integration into Unilever’s Beauty and Personal
Care Prestige division and implemented operational and financial
efficiencies that drove both sales growth and profit improvement.
In June 2021, Cervantes took on the additional role of Acting CEO
of Murad.
Stuart Landesberg, Grove’s CEO and Co-Founder stated, “We are
thrilled to welcome Sergio to the team. His extensive background in
consumer products and deep finance and operational experience will
be valuable assets to Grove. In particular, Sergio’s expertise in
growing distribution channels and driving profitability are core to
our roadmap. I look forward to partnering with Sergio to lead our
company as we continue to deliver on our mission driven growth
objectives.”
"I am extremely excited to join Grove and build upon the solid
foundation that has been created to further advance the Company’s
mission and achieve our financial objectives,” said Cervantes. “I
look forward to working with the Grove team to make the world a
better place, while we execute our financial plans for the benefit
of our stakeholders."
Cervantes assumed the position of Chief Financial Officer from
interim Co-CFOs Phil Moon and Janae De Crescenzo, who will continue
with the Company in their positions as VP of Finance and Chief
Accounting Officer, respectively.
About Grove
Collaborative
Launched in 2016 as a Certified B Corp, Grove Collaborative is
transforming consumer products into a positive force for human and
environmental good. Driven by the belief that sustainability is the
only future, Grove creates and curates over 150 high-performing
eco-friendly brands of household cleaning, personal care, laundry,
clean beauty, baby and pet care products serving millions of
households across the U.S. each year. With a flexible monthly
delivery model and access to knowledgeable Grove Guides, Grove
makes it easy for everyone to build sustainable routines.
Every product Grove offers — from its flagship brand of
sustainably powerful home care essentials, Grove Co., plastic-free,
vegan personal care line, Peach Not Plastic, and zero-waste pet
care brand, Good Fur, to its exceptional third-party brands — has
been thoroughly vetted against strict standards to be
uncompromisingly healthy, beautifully effective, ethically produced
and cruelty-free. Grove Collaborative is a public benefit
corporation on a mission to move Beyond Plastic™ and in 2021,
entered physical retail for the first time at Target stores
nationwide, making sustainable home care products even more
accessible. Grove is the first plastic neutral retailer in the
world and is committed to being 100% plastic-free by 2025. For more
information, visit www.grove.com.
On December 7, 2021, Grove and VGII, entered into the Agreement
and Plan of Merger, as amended, that will result in Grove becoming
a public company. Upon closing of the transaction, the combined
company will continue to operate under the Grove name and will be
listed on the NYSE under the new “GROV” ticker symbol.
Additional Information and Where to
Find It
In connection with the proposed business combination, VGII filed
with the SEC a registration statement on Form S-4 on January 18,
2022 (as amended on March 10, 2022) containing a preliminary proxy
statement and a preliminary prospectus of VGII, and after the
registration statement is declared effective, VGII will mail a
definitive proxy statement/prospectus relating to the proposed
business combination to its shareholders. This press release does
not contain all the information that should be considered
concerning the proposed business combination and is not intended to
form the basis of any investment decision or any other decision in
respect of the business combination. VGII’s shareholders and other
interested persons are advised to read the preliminary proxy
statement/prospectus and, when available, the amendments thereto
and the definitive proxy statement/prospectus and other documents
filed in connection with the proposed business combination, as
these materials will contain important information about Grove,
VGII and the proposed business combination. When available, the
definitive proxy statement/prospectus and other relevant materials
for the proposed business combination will be mailed to
shareholders of VGII as of a record date to be established for
voting on the proposed business combination. Such shareholders will
also be able to obtain copies of the preliminary proxy
statement/prospectus, the definitive proxy statement/prospectus and
other documents filed with the SEC, without charge, once available,
at the SEC’s website at www.sec.gov, or by directing a request to
Virgin Acquisition Corp. II, 65 Bleecker Street, 6th Floor, New
York, New York 10012.
No Offer or Solicitation
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, or a solicitation
of any vote or approval, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Participants in the
Solicitation
VGII, Grove and their respective directors, executive officers,
other members of management, and employees, under SEC rules, may be
deemed to be participants in the solicitation of proxies of VGII’s
shareholders in connection with the proposed business combination.
Information regarding the persons who may, under SEC rules, be
deemed participants in the solicitation of VGII’s shareholders in
connection with the proposed business combination will be set forth
in VGII’s registration statement on Form S-4, including a proxy
statement/prospectus, which VGII filed with the SEC on January 18,
2022 (as amended on March 10, 2022). Investors and security holders
may obtain more detailed information regarding the names and
interests in the proposed business combination of VGII’s directors
and officers in VGII’s filings with the SEC and such information
will also be in the registration statement to be filed with the SEC
by VGII, which will include the proxy statement / prospectus of
VGII for the proposed business combination.
Caution Concerning Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements regarding our or our management
team’s expectations, hopes, beliefs, intentions, plans, prospects
or strategies regarding the future, including possible business
combinations, revenue growth and financial performance, product
expansion and services. Any statements contained herein that are
not statements of historical fact may be deemed to be
forward-looking statements. In addition, any statements that refer
to projections, forecasts or other characterizations of future
events or circumstances, including any underlying assumptions, are
forward-looking statements. The words “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intends,” “may,”
“might,” “plan,” “possible,” “potential,” “predict,” “project,”
“should,” “would” and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. The forward-looking
statements contained in this press release are based on our current
expectations and beliefs made by the management of VGII and Grove
in light of their respective experience and their perception of
historical trends, current conditions and expected future
developments and their potential effects on VGII and Grove as well
as other factors they believe are appropriate in the circumstances.
There can be no assurance that future developments affecting VGII
or Grove will be those that we have anticipated. These
forward-looking statements involve a number of risks, uncertainties
(some of which are beyond the control of the parties) or other
assumptions that may cause actual results or performance to be
materially different from those expressed or implied by these
forward-looking statements, including that the VGII stockholders
will approve the transaction, regulatory approvals, product and
service acceptance, and that, Grove will have sufficient capital
upon the approval of the transaction to operate as anticipated.
Should one or more of these risks or uncertainties materialize, or
should any of our assumptions prove incorrect, actual results may
vary in material respects from those projected in these
forward-looking statements. Additional factors that could cause
actual results to differ are discussed under the heading “Risk
Factors” and in other sections of VGII’s filings with the SEC, and
in VGII’s current and periodic reports filed or furnished from time
to time with the SEC. All forward-looking statements in this press
release are made as of the date hereof, based on information
available to VGII and Grove as of the date hereof, and VGII and
Grove assume no obligation to update any forward-looking statement,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20220411005892/en/
Investor Relations: Alexis Tessier ir@grove.co Media Relations:
Meika Hollender pr@grove.co
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