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Wonder, the labor-light restaurant concept led by former Walmart ecommerce boss Marc Lore, is quietly preparing to go public next year.

Zoom in: Wonder's first restaurant acquisition came in February, when it paid around $6 million for Blue Ribbon Fried Chicken, which has a single location in Manhattan's East Village.

Zoom out: This is an M&A shift for Wonder, which is better known for bigger strategic deals like GrubHub, Spyce Robotics, and Blue Apron.