05:53 PM EDT, 07/08/2025 (MT Newswires) -- Grove Collaborative ( GROV ) board has been called to explore a merger or a sale to a larger company to drive valuation and shareholder returns, according to a letter sent by HumanCo Investments, which is affiliated with investors that own more than 5% in the company.

HumanCo cited Grove Collaborative's ( GROV ) 95% drop in enterprise value since going public and believes the company will be worth much more with the right merger or as a private company, according to the letter.

HumanCo said Grove's financial performance has been affected by factors like a lack of investor relevance and equity research coverage.

Grove Collaborative ( GROV ) didn't immediately respond to a request for comment from MT Newswires.

Shares rose 19% during after-hours trading.