Noodles & Company Announces Signing of 55 Restaurant Franchise Deal in California with Warner Foods
Noodles & Company (NASDAQ: NDLS) has announced a franchise partnership with Warner Foods, committing to develop 40 new locations in California over 12 years. The agreement will also see the re-franchising of 15 existing locations to Warner Foods, which will operate as NorCal Noodles, LLC. Expected to close on January 12, 2022, this deal marks a growth phase for Noodles & Company, aiming for seven to nine new openings in Q1 2022 and projected annual growth of 10% beyond 2022.
- New franchise agreement with Warner Foods to develop 40 locations in California.
- Re-franchising of 15 current company-owned locations to Warner Foods.
- Expecting 7-9 new openings in Q1 2022.
- Projected 8% unit growth in 2022 and 10% annual growth thereafter.
- None.
BROOMFIELD, Colo., Jan. 10, 2022 /PRNewswire/ -- Noodles & Company (NASDAQ: NDLS) today announced a partnership with Warner Foods, which operates over 150 Jack in the Box, Black Bear Diner, and Panera Bread restaurants, as its new exclusive franchise partner for the state of California. With a 12-year growth plan commitment, Warner Foods, which will operate as NorCal Noodles, LLC (NorCal Noodles) under this agreement, will develop 40 new Noodles & Company locations throughout the state. Additionally, as part of the agreement, all 15 current company-owned Noodles & Company locations in California will be re-franchised to NorCal Noodles. The transaction is expected to close on Wednesday, January 12, 2022.
Dave Boennighausen, CEO of Noodles & Company said, "We are thrilled to announce our partnership with Warner Foods to expand our brand further into the California market. Importantly, this also marks the second announced new franchise agreement in the last few months, reflecting momentum towards our goal to significantly increase our franchise locations as part of our overall growth plan. Warner Foods has a proven track record of superior operations, coupled with a people and guest-centric culture, making them the perfect fit to bring the Noodles & Company brand to more communities throughout California. With our economic model, on trend culinary innovation, and ability to meet the needs of today's consumer through our off premise and digital strengths, position the brand well as an attractive growth vehicle for franchise investment."
Eddie Nieves, partner and operator at Warner Foods, commented, "We are excited to add Noodles to our portfolio of brands. Noodles is one of the strongest brands in the fast-casual space, and over the past couple of years we've seen Noodles emerge as a leader in its ability to innovate its menu, its culture, and its brand. We're excited about the opportunity to partner with them and further grow Noodles in California, where we already do well with our other brands."
Noodles & Company has entered a stage of rapid growth, expecting seven to nine new openings during the first quarter of 2022 and anticipating
For more information about Noodles & Company and franchising opportunities, please visit Noodlesfranchising.com
About Noodles & Company
Since 1995, Noodles & Company has been serving noodles your way, with noodles and flavors that you know and love as well as new ones you're about to discover. From indulgent Wisconsin Mac & Cheese to better-for-you Zoodles and Other Noodles, the company serves a world of flavor in every bowl. Made up of more than 450 restaurants and thousands of passionate team members, Noodles was recently named one of America's Best Employers for Diversity Award 2021 by Forbes and has been named one of the Best Places to Work by the Denver Business Journal for its unique culture built on the value of "Loving Life" which begins by nourishing and inspiring every team member and guest who walks through the door. Noodles has also earned the Women in the Lead Certification for its investment in women-empowering initiatives for its female team members and has proudly partnered with the Multicultural Foodservice & Hospitality Alliance to build cultural intelligence within its teams. To learn more and to find the location nearest you, visit www.noodles.com
Media Contact: Danielle Moore, DMoore@Noodles.com
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SOURCE Noodles & Company
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