Sweetgreen Agrees to Sell Robotic Food Tech Division to Wonder Group for $186 Million [Los Angeles Times (CA)]
Sweetgreen, Inc. (SG)
Company Research
Source: Los Angeles Times
launching robotic kitchen technology, to Wonder Group for $186.4 million. Sweetgreen will use the proceeds to reinvest in key priorities and sharpen its focus on growth and profitability. “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 , chief executive and co-founder of Sweetgreen, in a statement. “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.” 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,
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