Overview
- Sweetgreen will receive $100 million in cash and $86.4 million in Wonder stock under the agreement.
- Thirty-eight Spyce employees, including the cofounders and core engineering team, will move to Wonder.
- Sweetgreen can continue installing Infinite Kitchen units under supply and licensing deals and currently uses the tech in about 20 of its 270 restaurants.
- The sale follows Sweetgreen’s earlier pullback from plans to fully automate its stores and comes ahead of its third-quarter earnings release.
- Wonder CEO Marc Lore said the acquisition equips the company to expand a technology-driven food platform and operate a wide range of small kitchens across cuisines.