Sweetgreen completes acquisition of Spyce
Sweetgreen acquired all of Spyce to bring the startup's automated-kitchen technology and team into its restaurant operations.
Verified eventSpyceSep 7, 2021
Evidence notes
- Sweetgreen closed the acquisition on September 7, 2021, purchasing 100% of Spyce through a merger.
- Sweetgreen issued shares valued at approximately US$37.5 million, paid roughly US$3.5 million of Spyce debt and expenses, and included contingent milestone shares.
- The stated objective was to use Spyce's automation technology to improve food quality, consistency and restaurant efficiency.