Sweetgreen Announces Sale of Spyce to Wonder

Seattle – November 6, 2025 – Cooley advised Sweetgreen, the mission-driven restaurant brand connecting more people to real food, on its agreement with Wonder, the fast-growing mealtime platform, to sell Sweetgreen’s Spyce business, responsible for developing and launching Infinite Kitchen technology. 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.

The $186.4 million sale will enable Sweetgreen to reinvest in key priorities and sharpen its focus on growth and profitability. In connection with the sale, Sweetgreen has put in place a supply agreement and license agreement that will allow the company, 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.

Lawyers Nick Davis, Charles Haley, Nick Hobson, J.P. Motley, Siana Lowrey, Vicky Kandabarow, Meredith Klionsky, Rebecca Siegel, Liza Hadley and Mark Cikowski led the Cooley team advising Sweetgreen.

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