Restaurant chain Sweetgreen, known for its leafy lunch salads, announced June 11 that it’s acquiring Washington D.C. meal delivery service Galley Foods for an undisclosed amount.
It’s the first acquisition for the Culver City-based Sweetgreen and marks a return to their roots. The company that invested heavily in blockchain technology to sell $12 salads was founded in 2007 in Washington D.C. but moved its headquarters to L.A. in 2015 to expand on the West Coast.
Under the deal, Galley Foods Chief Executive Alan Clifford will run logistics for Sweetgreen. Galley will continue to operate under its own brand. Both companies place heavy emphasis on fresh, “clean” ingredients.
Sweetgreen currently has 90 location and more than 4,000 employees. It was valued at $1 billion as part of a $200 million funding round last November, putting it in the rarified air of so-called unicorns such as Uber Technologies Inc., Lyft Inc. and Airbnb Inc.
The company has raised a total of $365 million from venture capital firms.
Manufacturing, retail and trade reporter Rachel Uranga can be reached at firstname.lastname@example.org or (323) 556-8351. Follow her on Twitter @racheluranga