Latham & Watkins Advises Wonder in US$186.4 Million Acquisition of Spyce

Sweetgreen, Inc. (NYSE: SG), the mission-driven restaurant brand connecting more people to real food, announced that it has entered into an agreement with Wonder, the fast-growing mealtime platform, to sell the company’s Spyce business responsible for developing and launching Infinite Kitchen technology. Sweetgreen will receive US$100 million in cash plus shares of Series C Preferred Stock of Wonder with an implied value of US$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.

Latham & Watkins LLP represents Wonder in the transaction with a corporate deal team led by Los Angeles partner Andrew Clark, associate Stanley Onyeador, San Diego partner Steve Chinowsky, and counsel Robert Yeh, with associates Ondrej Gaiser-Palecek, Cole Frost, Patrick Chew, and Kristina Funahashi and assistance from Stephen Oh. Advice was also provided on antitrust matters by Bay Area partner Joshua Holian and Washington, D.C. partner Patrick English, with associate Ben Bouwman; on tax matters by Los Angeles partner Ana O’Brien, with associate Arash Lotfi; on data privacy matters by Bay Area partner Robert Blamires, with associate Kathryn Parsons-Reponte; on labor and employment matters by Chicago partner Nineveh Alkhas, with associate Imara Joroff; and on compensation and benefits matters by Los Angeles/Bay Area partner Julie Crisp, with associate Kevin Matheny.