Sweetgreen is selling its automated kitchen technology to Wonder for $186.4 million

Core Insights - Sweetgreen intends to sell Spyce to Wonder for $186.4 million, which includes $100 million in cash and $86.4 million in stock [1][4] - Sweetgreen acquired Spyce in 2021 for $70 million, and the technology is currently implemented in 20 locations, representing over 7% of its portfolio [2] - The acquisition allows Sweetgreen to maintain the use of Infinite Kitchen technology across its restaurants with increased flexibility [4] Company Developments - Sweetgreen's CEO, Jonathan Neman, expressed pride in the development and monetization of the robotic food technology [3] - The company initially aimed for full automation in all stores but has since revised its goal to implement the technology in half of its locations [3] - Sweetgreen operates 270 locations across the United States [6] Industry Impact - Wonder's CEO, Marc Lore, highlighted that the acquisition of Spyce's technology will enhance their capabilities, allowing for the operation of over 100 restaurants from a small kitchen [5] - The deal is positioned to transform food preparation and service, emphasizing speed, temperature, and accuracy [5]