Latham & Watkins Advises Wonder on US$186.4 Million Acquisition of Sweetgreen's Spyce Business

Latham & Watkins LLP represented Wonder in its acquisition of the Spyce business from Sweetgreen, Inc. Sweetgreen, Inc., the mission-driven restaurant brand, entered into an agreement with Wonder, the mealtime platform, to sell its Spyce business, which developed and launched Infinite Kitchen technology. Under the terms disclosed, 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 Wonder issued shares to cash investors in its most recent equity financing. Latham & Watkins LLP represented Wonder with a team composed by: Los Angeles partner Andrew Clark (partner, Corporate) leading the corporate deal team, associate Stanley Onyeador, San Diego partner Steve Chinowsky (partner, Corporate), counsel Robert Yeh, with associates Ondrej Gaiser-Palecek, Cole Frost, Patrick Chew, and Kristina Funahashi, and assistance from Stephen Oh. Antitrust advice was provided by Bay Area partner Joshua Holian (partner, Antitrust) and Washington, D.C. partner Patrick English (partner, Antitrust), with associate Ben Bouwman. Tax advice was provided by Los Angeles partner Ana O'Brien (partner, Tax), with associate Arash Lotfi. Data privacy matters were handled by Bay Area partner Robert Blamires (partner, Data Privacy), with associate Kathryn Parsons-Reponte. Labor and employment advice was provided by Chicago partner Nineveh Alkhas (partner, Labor & Employment), with associate Imara Joroff. Compensation and benefits matters were advised by Los Angeles/Bay Area partner Julie Crisp (partner, Compensation & Benefits), with associate Kevin Matheny.

Latham & Watkins Advises Wonder on US$186.4 Million Acquisition of Sweetgreen's Spyce Business

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