Sweetgreen has agreed to sell its Spyce business to Wonder in a deal valued at $186.4 million. The transaction includes $100 million in cash and Series C Preferred Stock worth approximately $86.4 million, based on Wonder’s most recent funding round.
The move marks a strategic shift for Sweetgreen as it focuses on profitability and operational growth. Spyce, which Sweetgreen acquired in 2021 for around $70 million, developed the Infinite Kitchen robotic technology now used in more than 20 of the company’s U.S. locations.
As part of the sale, Sweetgreen has secured licensing and supply agreements to continue using the Infinite Kitchen system, allowing it to maintain the automation technology across its restaurants while refocusing resources on scaling its brand.
The sale includes the transfer of 38 Spyce engineers and staff, including the company’s co-founders, to Wonder. The technology will now form part of Wonder’s wider platform, which integrates robotics to improve food preparation and efficiency.
For Sweetgreen, the divestment is intended to streamline operations and reallocate capital to expand its restaurant footprint and achieve long-term profitability.