• Grove Inc (NASDAQ: GRVI) said its wholly-owned Amazon brand aggregator, Upexi, has acquired a controlling interest in Cygnet Online LLC, an Amazon and eCommerce seller.

• The deal is expected to expand Cygnet’s product offerings through Grove distributors and partnerships.

• Cygnet, a secondary market seller on Amazon, focuses on the OTC (Over-the-Counter), supplements, and beauty markets.

• The acquisition was completed with a combination of stock, cash, and debt.

• “Cygnet’s team and its 11-year experience on Amazon will help facilitate the growth of our in-house, eCommerce brands and all future acquisitions,” said CEO Allan Marshall.

• Grove held .6 million in cash and equivalents as of December 31, 2021.

• Price Action: GRVI shares traded higher by 5.38% at $4.90 premarket on the last check Wednesday.

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