Noodles & Company Announces Additions to Support New Restaurant Development
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Noodles & Company Announces Additions to Support New Restaurant Development

Company scales for growth with new hires

BROOMFIELD, Colo., Nov 5, 2020 // PRNewswire // - Noodles & Company (NASDAQ: NDLS) today announced that is has hired John Ramsay as vice president of franchise sales to support the company as they prepare for growth.

"We are aggressively building a robust development pipeline, and we plan to advance both our company and franchise strategies" said Dave Boennighausen, chief executive officer at Noodles & Company. "We continue to target at least 10-15 new restaurant openings systemwide in 2021, with a target of at least 7% annual unit growth beginning 2022. John brings a breadth of experience that will enable us to take advantage of growth and partnership opportunities as they arise."

Ramsay comes to Noodles with more than 28 years of experience in franchise and sales development. He will be critical in supporting Noodles' restaurant growth initiatives by recruiting and selecting franchise partners, while also working with existing franchise partners to build out their Noodles & Company businesses through multiple restaurant locations. John will also partner closely with VP of Franchise Operations Carly Habein to cultivate strong relationships early in the partnership process with potential franchise prospects. Currently, 76 of Noodles 454 locations are franchise owned and operated with two more slated to open in early 2021.

"As a proven concept, Noodles is uniquely positioned to grow at this time," said Ramsay. "Noodles has innovated and adapted quickly to the off-premise experience and offers attractive unit-level economics for franchisees."

Most recently, John led franchising and development efforts for Bruxie International, Marco's Franchising, and Rubio's Baja Grill. In addition to his franchise roles, John has also worked in construction and real estate for brands like Sbarro's, T.G.I. Friday's and Jack in the Box.

"Franchise growth is a tremendous opportunity for Noodles, and with John and Carly's leadership, we will be able to accelerate unit growth while partnering with franchise operators who value our people culture and dedication to making Noodles the best place to work in the industry," said Boennighausen.

To learn more about franchising opportunities with Noodles & Company, please visit their website.

Noodles has also hired two experienced real estate directors, Eric Briggs and Greg Burnthorn, who bring nearly two decades of combined real estate experience to the team. They will report to VP of Real Estate Dawn Rheinlander and join her in leading restaurant development.

"We believe that Noodles & Company's strengths are perfectly suited for today's consumer environment, and with these additions to our company and franchise development teams, we are even more equipped to take advantage of the opportunity to expand our footprint throughout the country," said Boennighausen. "Strength in our most recent class of new restaurants, complemented by the development of an off-premise oriented, more efficient prototype, gives us great confidence in the opportunity to be one of the premier growth stories in the restaurant space in coming years."

About Noodles & Company

Since 1995, Noodles & Company has been serving noodles your way, with noodles and flavors that you know and love to 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 10,000 passionate team members, Noodles was 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. To learn more or find the location nearest you, visit the company website.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. In some cases, you can identify forward-looking statements by terms such as "may," "might," "will," "objective," "intend," "should," "could," "can," "would," "expect," "believe," "design," "estimate," "predict," "potential," "plan" or the negative of these terms, and similar expressions intended to identify forward-looking statements. These statements reflect the Company's current views with respect to future events and are based on currently available operating, financial and competitive information. Examples of forward-looking statements include all matters that are not historical facts, such as statements regarding the Company's future financial performance in light of management changes. The Company's actual results may differ materially from those anticipated in these forward-looking statements due to reasons including, but not limited to those discussed in the Company's filings with the Securities and Exchange Commission, including in its Annual Report on Form 10-K for the year ended January 2, 2018. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the statements. Also, the forward-looking statements contained herein represent the Company's estimates and assumptions only as of the date hereof. Unless required by United States federal securities laws, the Company does not intend to update any of these forward-looking statements to reflect circumstances or events that occur after the statement is made.

SOURCE Noodles & Company



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