Noodles & Company Announces Signing of 55-Restaurant California Franchise Agreement with Warner Foods

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January 10, 2022 // // BROOMFIELD, Colorado – Noodles & Company (NASDAQ: NDLS) today announced a partnership with Warner Foods as the 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 statewide. Additionally, as part of the agreement, Noodles & Company’s current 15 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 further expand our brand in the California market. Importantly, this is also the second new franchise agreement announced in recent 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 customer-centric culture, making it the perfect fit to bring the Noodles & Company brand to more communities across California. With our business model, on-trend culinary innovation and our ability to meet the needs of today’s consumer through our offsite and digital assets, position the brand as an attractive growth driver for franchise investment.

Eddie Nieves, Partner and Operator at Warner Foods, said: “We are delighted to add Noodles to our portfolio of brands. Noodles is one of the strongest brands in the fast-casual space, and over the past two years we’ve seen Noodles emerge as a leader in its ability to innovate its menu, culture and brand. We’re excited for the opportunity to partner with them and further grow Noodles in California, where we’re already doing well with our other brands.

SOURCE Noodles & Company



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Cecil N. Messick