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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

sweetgreen to Acquire Boston-based Spyce to Scale the Future of Healthy Fast Food

August 24, 2021 GMT

LOS ANGELES--(BUSINESS WIRE)--Aug 24, 2021--

sweetgreen, the mission-driven brand serving healthy food at scale, announces today its plans to acquire Spyce, the Boston-based restaurant company powered by automation.

The acquisition will allow sweetgreen to reimagine healthy fast food with even better quality, consistency, and efficiency.

“Spyce and sweetgreen have a shared purpose,” said Jonathan Neman, co-founder and CEO of sweetgreen. “We built sweetgreen to connect more people to real food and create healthy fast food at scale for the next generation, and Spyce has built state-of-the-art technology that perfectly aligns with that vision. By joining forces with their best-in-class team, we will be able to elevate our team member experience, provide a more consistent customer experience and bring real food to more communities.”

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Sweetgreen is determining when and where they will introduce Spyce’s technology into its restaurants. The main drivers for the acquisition are:

  • PEOPLE:
    • sweetgreen team members will be able to focus more on preparation and hospitality moments, while having the opportunity to work with state-of-the-art technology
    • Invest more in training and development to support team members to become Head Coaches. Interested team members will be able to develop technology-facing skills to operate and maintain Spyce technology

  • CUSTOMERS:
    • Generate faster and more consistent orders, creating an even more seamless customer experience and furthering sweetgreen’s position as a forward thinking, fast casual restaurant
    • sweetgreen to further enhance their menu of healthy options beyond warm bowls, salad, and sides, all the while maintaining the same craveability and convenience that guests have come to love

  • FOOD:
    • Further its mission to provide nutritious, real food to as many people and communities as possible with a company that has a shared for the future of food

“As operators in the healthy, fast casual space, sweetgreen has long been the brand that we have most admired,” Michael Farid, co-founder and CEO of Spyce. “We’re excited to come on board to join another inspiring, founder-led company, and to work together to blaze the trail for the future of this industry.”

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The acquisition is subject to customary closing conditions and is expected to close in Q3 of 2021.

About sweetgreen:

Founded in 2007, sweetgreen passionately believes that real food should be convenient and accessible to everyone. Every day, across its 130+ restaurants, over 4,300 team members make food from scratch, using fresh ingredients and produce delivered that morning. sweetgreen’s strong food ethos and investment in local communities have enabled them to grow into a national brand with a mission to build healthier communities by connecting people to real food. To learn more about sweetgreen and its menu, visit www.sweetgreen.com. Follow sweetgreen on Instagram, Facebook and Twitter @sweetgreen.

About Spyce:

Boston-Based restaurant company Spyce offers a fresh approach to veggie-forward warm bowls and salads cooked-to-order and personalized just for you. The company counts world-class chefs, like Daniel Boulud, as investors and advisors. Pairing its culinary vision and innovative approach, Spyce created the Infinite Kitchen -- a cutting edge, automated culinary tool designed to balance the core elements of cooking technique, measurement, and timing to bring out the most in every ingredient. By fresh-cooking through automation, Spyce is able to source incredible ingredients, enable seamless experiences for its guests and create engaging and tech-forward jobs for its employees. To learn more visit www.spyce.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210824005707/en/

CONTACT: Maude Michel, sweetgreen

maude.michel@sweetgreen.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA MASSACHUSETTS

INDUSTRY KEYWORD: RETAIL RESTAURANT/BAR FOOD/BEVERAGE

SOURCE: sweetgreen

Copyright Business Wire 2021.

PUB: 08/24/2021 12:23 PM/DISC: 08/24/2021 12:23 PM

http://www.businesswire.com/news/home/20210824005707/en