LOS ANGELES, November 07, 2025 — Sweetgreen, Inc. (NYSE: SG), the mission-driven restaurant brand connecting more people to real food, today announces that it has entered into an agreement with Wonder, the fast-growing mealtime platform, to sell the company’s Spyce business responsible for developing and launching Infinite Kitchen technology.
The $186.4 million sale represents a strategic milestone for Sweetgreen, which will enable the company to reinvest in key priorities and sharpen its focus on growth and profitability.
Sweetgreen will receive $100 million in cash plus shares of Series C Preferred Stock of Wonder with an implied value of $86.4 million based on the price per share at which shares were issued by Wonder to cash investors in its most recent equity financing.
In connection with the sale, Sweetgreen has put in place a supply agreement and license agreement that will allow Sweetgreen, after the sale, to continue to deploy Infinite Kitchens across its restaurants, ensuring the technology’s benefits remain central to scaling, with even greater flexibility.
Sweetgreen acquired Spyce and its groundbreaking Infinite Kitchen technology in 2021 for approximately $70 million when including post-acquisition true-up and milestone amounts. Since that time, the team designed, developed and commercialized the Infinite Kitchen, which is now in use in over 20 Sweetgreen locations across the U.S. As Sweetgreen has expanded its Infinite Kitchen footprint, it has proven the ability to deliver significantly faster throughput and enhanced food quality, accuracy, and consistency, all while elevating the guest and team member experience. The technology simplifies operations so that front-of-house team members can focus more on hospitality and fresh food prep.
As part of the agreement, 38 exceptional Spyce engineers and support staff, including Spyce co-founders Michael Farid, Kale Rogers, Brady Knight, and Luke Schlueter, will transition to Wonder.
“We’re incredibly proud of the work our team and the Spyce team have done to develop, scale, and monetize one of the world’s most advanced robotic food technologies,” said Jonathan Neman, Co-Founder and CEO of Sweetgreen. “We remain deeply confident in both the Infinite Kitchen’s future impact and the brilliant team behind it. As we focus on driving long-term, profitable growth, our collaboration with Wonder will enable us to continue expanding and enhancing the Sweetgreen experience for our guests, while unlocking new opportunities for innovation and scale in the years ahead.”
The Infinite Kitchen will further Wonder’s evolution from a vertically-integrated, multi-restaurant operator, to a tech-driven food platform owning both robotics and infrastructure. By increasing throughput in their restaurant footprints, the technology will further expand Wonder’s mission to make great food more accessible and become a go-to solution for mealtime.
“At Wonder, everything begins and ends with the customer,” said Marc Lore, Founder and CEO of Wonder. “As we evolve from a first-of-its-kind, multi-restaurant operator into a truly scalable, technology-powered food platform, the acquisition of Spyce’s Infinite Kitchen gives us leading robotics capabilities that will transform how food is prepared and served. This technology enables us to eventually operate more than 100 restaurants across any cuisine type and price point, all out of a small kitchen, while serving food faster, hotter and with flawless accuracy and consistency. It furthers our mission to make great food more accessible, bringing more restaurants to more people, in more places, at more times of day and at more affordable prices.”