Sweetgreen Inc. closed the sale of Spyce, its business unit behind Infinite Kitchen, to Wonder Group Inc. for $100 million in cash.

The Dec. 29 deal also included an implied value of $86.4 million in Wonder shares of series C preferred stock, plus a long-term supply and services agreement for Sweetgreen to continue using the technology. Infinite Kitchen, an automated system to assemble meals and salads on conveyor belts, has been described by Sweetgreen Chief Executive Jonathan Neman to have increased throughput and improved restaurant level margins with “near perfect” order accuracy since launching in May 2023 in Naperville, Illinois. It has since scaled to more than 20 Sweetgreen locations.

“This transaction reflects the strength of the Infinite Kitchen and the incredible work of the team behind it,” said Neman in a statement. “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.”

Sweetgreen acquired the Boston-based Spyce in 2021 for approximately $70 million, when a funding round earlier in the year valued the Jefferson Park-based company at about $1.8 billion, a huge growth partially because of a massive surge in its digital sales during the coronavirus pandemic.

A rough year for Sweetgreen

That rapid growth did not continue to this day.

The fast casual restaurant chain failed to meet investor expectations consistently last year, with its stock prices dropping by about 80% in 2025 and losing millions each quarter. Its enterprise value has shrunk from $4.17 billion to $1.09 billion since September 2024.

Not all news is bad, however: the company has no debt based on its June 2025 balance sheet and experienced a slight bump in share prices at the end of 2025, rising 4.5% to close at $6.83 Dec. 31. It has also appointed a new chief brand officer, Zipporah Allen, replacing Nathaniel Ru.