Restaurant Technology Company and Toast Competitor Presto Going Public: What Investors Should Know

Courtesy Presto via Benzinga

A leading provider of restaurant labor productivity technologies is going public in a SPAC deal announced Wednesday.

The SPAC Deal

Presto announced a SPAC merger with Ventoux CCM Acquisition Corp valuing the company at a pro forma equity value of $1 billion.

A PIPE of $70 million includes investment from founder and CEO Rajat Suri and several restaurant franchise groups for companies including Yum! Brands, Inc., Applebee’s, Outback Steakhouse and McDonald’s Corp.