Sweetgreen announced on December 29 2025 that it had completed the sale of its Spyce unit, the developer of the Infinite Kitchen automation platform, to Wonder Group, Inc. The transaction delivers Sweetgreen $100 million in cash and $86.4 million in Wonder Group Series C preferred stock, for a total consideration of $186.4 million. The deal also includes a long‑term supply and services agreement that allows Sweetgreen to continue using the Infinite Kitchen platform in many of its restaurants while Wonder assumes responsibility for technology development and manufacturing.
The sale comes at a time when Sweetgreen’s financial performance has been under pressure. In Q3 2025 the company reported revenue of $172.4 million, a 0.6 % decline from the prior year, and a same‑store sales drop of 9.5 %. Net loss for the quarter was $36.1 million, reflecting lower traffic, softer demand in key markets, and rising labor costs. The liquidity generated by the sale is therefore a critical buffer that Sweetgreen can deploy to shore up its balance sheet and fund future growth initiatives.
Management explained that divesting Spyce allows Sweetgreen to focus on its core restaurant business while still benefiting from the automation technology through the supply agreement. CEO Jonathan Neman said, “This transaction reflects the strength of the Infinite Kitchen and the incredible work of the team behind it. It allows us to stay focused on our long‑term growth while continuing to benefit from a technology that has become a key part of our restaurant operations.” The move also signals Sweetgreen’s intent to reduce capital expenditures on automation, which have been a significant cost driver.
The transaction aligns with Wonder Group’s strategy to build a technology‑driven food platform. Wonder, led by Marc Lore, has been expanding its “mealtime platform” through acquisitions such as Grubhub and Blue Apron. By acquiring Spyce’s automation technology, Wonder can lower operating costs and increase volume per location, positioning it to serve a broader range of cuisines with advanced automation.
The sale is expected to improve Sweetgreen’s operating leverage. With the $186.4 million in cash and preferred equity, Sweetgreen can reduce debt, fund new restaurant openings, and invest in menu and technology upgrades. The long‑term supply agreement ensures continuity of the Infinite Kitchen platform, mitigating disruption to existing operations while freeing Sweetgreen from the capital and operational burden of owning and maintaining the technology.
The transaction also reflects broader market headwinds that Sweetgreen has faced, including softer sales trends in key markets, lighter spending among younger guests, and macroeconomic pressures. By divesting a non‑core asset, Sweetgreen can better navigate these challenges and focus on core growth drivers such as new restaurant openings and operational efficiencies.
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