Noodles plans IPO, taps Brinker vet for board
- Noodles & Co., owner of about 90 fast-casual noodle restaurants, confirmed published reports that an initial public offering is possible as early as next year.
June 28, 2004
BOULDER, Colo. (June 29)- Noodles & Co., owner of about 90 fast-casual noodle restaurants, confirmed published reports that an initial public offering is possible as early as next year.The company, which will open its first franchised unit in California this summer and had recently inked three deals with area developers to open 74 units during the next seven years, said Noodles & Co. was founded with the intention of going public. "[An IPO] remains top of mind," a company spokeswoman said. "But there is no specific timeline." Next year is a possibility, however, she said. Since announcing the company's franchised area operator program in May 2003, Noodles has signed five franchisees to build 141 units in markets including the Indianapolis area, Michigan and New England. Separately, the company added to its board of directors, tapping former Brinker International chief financial officer Debra Smithart-Oglesby, who will serve a one-year term as the audit committee chair. Smithart-Oglesby is currently president of O/S Partners, an investment capital and consulting firm.
